Earlier this week, U.S. Treasury Secretary Tim Geithner finally announced his Public-Private Investment Program to deal with the banking crisis. Geithner’s proposal enlists private sector participants to buy the toxic bank assets that are clogging the financial system.
I’ve identified below the most toxic assets that plague our entire system and undermine any hope of economic recovery.
If Mr. Geithner can find a way to sell off these toxic assets, most of our financial problems will be solved.
Unfortunately, so far there are no takers.