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Pimco's McCulley: Geithner Did Great Job, But ...

"We were searching for more details than Tim (Geithner) was able to provide, but I thought Tim did a great job of articulating the architecture they're working under, and it is comprehensive, we're just short on details right now. Essentially they're creating two entities - the TALF, to deal with creating new credit, and also the public-private investment fund, to deal with the legacy assets. So you're going to have two huge balance sheets sponsored by the government."

- Paul McCulley, Pimco Managing Director