Program to rid banks of troubled assets might be put on hold
The Federal Deposit Insurance Corp. is creating the Legacy Loans Program, part of the Public-Private Investment Program, but sources said the bad-loan program is foundering and might be put on hold. Concerns that the program's rules might change led to reluctance on the part of prospective buyers and sellers. Also, some banks are less interested in the program as they start to stabilize.
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posted by Victor Lloyd Smith @ 10:28 AM
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