March 23, 2009
Posted: 1452 GMT
TARP is so last year. Today, it's all about PPIP. The "Public-Private Investment Program," the details of which were unveiled today by the busiest man on earth, U.S. Treasury Secretary Tim Geithner.
This is a "take two" of the plan Geithner first presented a month ago. At the time, investors were frustrated by the Secretary's lack of detail. Today, markets are cheering.
Wrapping your head around PIPP intricacies first thing in the morning isn't easy. It's basically removing "toxic assets" from the balance sheet of banks.
But Tim Geithner wants private investors (with government help) to buy back bad loans from banks. The goal is to finally give banks a clean slate to start lending again so consumers can start spending again.
Or at least that's the hope. We'll talk with Stephen Moore of the Wall Street Journal's editorial page where Secretary Geithner today published the details of his plan. Will this work? We'll ask him.
Join us for that and the rest of the day's news in a few hours at the I-Desk.
And don't forget to vote in today's poll on South Africa blocking the Dalai Lama from attending a peace conference in Johannesburg.
See you on air,
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