While the government focuses on recapitalizing banks, the Treasury Department shouldn't forget about its initial plan to find prices for toxic assets held by banks, Stephen Roach, chairman of Morgan Stanley Asia, told CNBC Wednesday.
"I think the whole TARP concept has worked very differently from how it was envisioned by (Treasury Secretary Henry) Paulson when he approached Congress with a methodology for dealing with toxic assets," Roach told "Worldwide Exchange."
"They've got to move ahead on this price discovery process for toxic assets," he said.