The Wall Street Journal had a front page article today on the PPIP, analyzing why it has failed to get off the ground and suggesting that the failure was thwarting efforts to help smaller banks.As you probably recall the PPIP was originally going to attack two problems. Legacy securities and legacy loans at banks. The idea was that due to the large bid-ask spread for these assets the federal government would provide outside buyers with financing that would allow them to place a higher bid for th
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