Yesterday, Treasury Secretary Timothy Geithner unveiled his plan to clean up the toxic assets plaguing the financial industry, calling it the Public Private Partnership Investment Program. Here's how one economist explained the plan: "The Geithner Plan is a trillion-dollar operation by which the U.S. acts as the world's largest hedge fund investor, committing its money to funds to buy up risky and distressed but probably fundamentally undervalued assets and, as patient capital, holding them either until maturity or until markets recover so that risk discounts are normal and it can sell them off—in either case at an immense profit." What do you think of the plan? Is it the government's role to commit taxpayer dollars to buying up toxic assets? Post your thoughts.
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