The Public-Private Investment Program for Legacy Assets

[Cees Binkhorst]

REPLY TO: D66 at nic.surfnet.nl

Door middel van deze poging om de boeken van banken op te schonen, wordt
ook aangegeven dat de balancesheet van de banken NIET de juiste waarde
weergeven.
M.a.w. de banken wordt de kans gegegeven om hun bijna waardeloze leningen
tegen een werkelijke marktwaarde te verkopen en NIET de banken zullen hier
van profiteren, maar de kopers (en uiteindelijk zal het risico voor de
belastingbetaler zo klein mogelijk worden gemaakt).

De banken zullen echter WEL de werkelijke waarde (dus de verkoopprijs
tegen marktwaarde) in hun V&W-rekening en Balans moeten opnemen. Dus de
pijn wordt dan zichtbaar!

Expliciet wordt ook aangegeven dat de Japanse banken hier na 20 (?) jaar
nog steeds bezig mee zijn!
Terwijl Japan (en niet China) NU nog steeds de grootse houder is van
Amerikaanse waardepapieren (Waar betalen ze het van? Een nóg grotere
zeepbel?).

Groet / Cees

PS. Eén krantenlezer (http://latimesblogs.latimes.com/money_co/) geeft dit
commentaar:
I think we the taxpayers are getting what we deserve. After all, we
elected the people in power and unfortunately they have not served us very
well in recent years. I guess we were more interested in stopping gay
marriage than in stopping financial speculation. So that's what the
politicians gave us. If we are lucky, we will only suffer a modest drop in
our standard of living in the coming years, as the country pays down its
national debt. If we are not, we may lose our democracy and go the way of
Weimar Germany. Think of Santa Catalina Island being turned into a giant
concentration camp, complete with gas chambers, crematoria and slave labor
facilities.

http://www.treas.gov/press/releases/tg65.htm
To address the challenge of legacy assets, Treasury – in conjunction with
the Federal Deposit Insurance Corporation and the Federal Reserve – is
announcing the Public-Private Investment Program as part of its efforts to
repair balance sheets throughout our financial system and ensure that
credit is available to the households and businesses, large and small,
that will help drive us toward recovery.
Three Basic Principles: Using $75 to $100 billion in TARP capital and
capital from private investors, the Public-Private Investment Program will
generate $500 billion in purchasing power to buy legacy assets –
with the potential to expand to $1 trillion over time. The Public-Private
Investment Program will be designed around three basic principles:
    •    Maximizing the Impact of Each Taxpayer Dollar: First, by using
government financing in partnership with the FDIC and Federal Reserve
and co-investment with private sector investors, substantial
purchasing power will be created, making the most of taxpayer
resources.
    •    Shared Risk and Profits With Private Sector Participants: Second,
the Public-Private Investment Program ensures that private sector
participants invest alongside the taxpayer, with the private sector
investors standing to lose their entire investment in a downside
scenario and the taxpayer sharing in profitable returns.
    •    Private Sector Price Discovery: Third, to reduce the likelihood
that the government will overpay for these assets, private sector
investors competing with one another will establish the price of the
loans and securities purchased under the program.
The Merits of This Approach: This approach is superior to the alternatives
of either hoping for bank

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