http://pragcap.com/ppip-dead-on-arrival Sat, 11 Feb 2012 22:06:55 +0000 hourly 1 http://wordpress.org/?v=3.3.1 http://pragcap.com/ppip-dead-on-arrival/comment-page-1#comment-1568 RudyInNY Fri, 29 May 2009 00:43:54 +0000 http://pragcap.com/ppip-dead-on-arrival#comment-1568 The earlier M2M rule change is the reason why PPIP won't work. This rule change converted the bank's toxic assets to legacy assets. Suddenly, their cap ratios fell in line with fed's requirements. Now, the only thing the banks would be interested is to use PPIP to put tax payer money against any possible losses and keep the profits to themselves. One more case of "Privatize the profits, socialize the loss". The earlier M2M rule change is the reason why PPIP won't work. This rule change converted the bank's toxic assets to legacy assets. Suddenly, their cap ratios fell in line with fed's requirements. Now, the only thing the banks would be interested is to use PPIP to put tax payer money against any possible losses and keep the profits to themselves. One more case of “Privatize the profits, socialize the loss”.

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