Politics & Government

July 8, 2009

Treasury's toxic-asset plan turns out smaller than expected

Once expected to cost taxpayers hundreds of billions of dollars, the Treasury Department unveiled a plan Wednesday that will invest just $30 billion initially, alongside $10 billion from select private sector firms, to purchase so-called toxic assets from banks. Trillions of dollars worth of bad mortgage-backed securities sit on bank balance sheets. It's not clear if Treasury will force the banks to sell.

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