“Together with the Fed, FDIC and private sector, we will establish a Public Private Investment Fund. This program will provide government capital and government financing to help leverage private capital to help get private markets working again for the legacy loans and assets that are now burdening the entire financial system.”
“By providing the financing the private markets cannot now provide, this will help start a process of providing a market for the real estate related assets that are at the center of the this crisis. Our objective is to use private capital and private asset managers to help provide a market mechanism for valuing the assets.”
They're going to subsidize leveraged bets on leveraged bets. High comedy!