Today may mark my first happy moment with the Obama administration.
They announced a new Treasury program where private investors will team with the feds to buy up bad assets at troubled banks. It's call the Public-Private Asset Program.
Here's da facts, Jack: Treasury Releases Details on Program to Buy Troubled Assets

QOTD
"This is perhaps the first win/win/win policy to be put on the table and it should be welcomed enthusiastically"
- Bill Gross, PIMCO bond master of the universe, on the Treasury bank program: source
If Bill Gross is happy, then I'm pretty happy.
Why?
Bill Gross is happy because he's going to make tons of money.
If the feds present people a way to make money while un-jamming the credit markets, then they stand half a chance of succeeding.

Last fun link... here's the criteria and your application to participate:
http://www.crossingwallstreet.com/archives/2009/03/application_to.html

So, get your $10B ready to go... markets are up 4% on the news as we speak.

QOTD2
"You know what this means, Patrick... SLEEPOVER!"
- Spongebob

huzzah... yow, bill

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