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Power Line - Is Obama Bringing Enron to Washington?
Power Line - Is Obama Bringing Enron to Washington?
So according to the FT, it appears that the banks selling assets will also be able to bid on each other's assets.
US banks that have received government aid, including Citigroup, Goldman Sachs, Morgan Stanley and JPMorgan Chase, are considering buying toxic assets to be sold by rivals under the Treasury's $1,000bn (£680bn) plan to revive the financial system.
The plans proved controversial, with critics charging that the government's public-private partnership - which provide generous loans to investors - are intended to help banks sell, rather than acquire, troubled securities and loans.
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