The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: Les H who wrote (192970)	3/24/2009 2:17:32 PM
From: Les H	Read Replies (1) of 306849

Public Outrage’ The two parts of the U.S. Public-Private Investment Program each involve using a combined $75 billion to $100 billion of Treasury funds from the $700 billion Troubled Asset Relief Program to match equity stakes from private investors in a series of funds that may buy as much as $1 trillion of assets. Both are part of larger efforts by governments worldwide to thaw credit markets to thwart a global recession. “While I think highly of the ‘Loan Program,’ I believe the ‘Securities Program’ stinks like a ‘pay for play’ program,” Rosner wrote in a note to clients yesterday. “Once the market and public figures out the truth of this program, whether tomorrow or in a few years, I expect it will become a rightful focus of public outrage on a scale not yet seen.” Geithner wrote yesterday in a Wall Street Journal op-ed the public-private funds “will purchase real-estate related loans from banks and securities from the broader markets.” Ambiguous’ Wording One Treasury statement yesterday said the type of securities being targeted are “held by banks as well as insurance companies, pension funds, mutual funds, and funds held in individual retirement accounts.” bloomberg.com

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