North America – PPIP has lost momentum, JPMorgan`s investment banking gaining on Goldman
PPIP has lost momentum
From WSJ.com: Markets initially rallied when Treasury Secretary Timothy Geithner announced in March a two-pronged plan to offer favorable government financing to entice investors to buy bad loans and toxic securities from banks.
But that initiative -- called the Public-Private Investment Program, or PPIP -- has lost momentum. Big banks worried about having to sell at fire-sale prices...
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