See What People Are Saying About... Latest Toxic Asset Plan
On Monday the Treasury rolled out detailed plans to soak up $1 trillion in toxic assets -- a key element to economic recovery.
The somewhat complex Public-Private Investment Program or PPIP involves enticing private investors to purchase toxic assets by offering incentives such as low-cost government financing and guarantees.
The plan has two programs—one to purchase securities, the other to purchase loans from banks.
Two of the largest U.S. money managers, BlackRock and PIMCO, expressed interest in participating.
"This is perhaps the first win/win/win policy to be put on the table and it should be welcomed enthusiastically. We intend to participate and do our part to serve clients as well as promote economic recovery," Bill Gross, PIMCO's co-chief investment officer, told Reuters.
And that leads to our Fast Money Reader Poll. Did Geithner just provide the missing piece of the puzzle that puts us on the road to economic recovery?
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CNBC.com with wires