Monday, March 23, 2009

Toxic Assets

$500 billion dollars in "toxic assets" will be purchased under the new rescue plan unveiled by the Obama administration. The stock market went crazy (+500). It's called the "Public-Private Investment Program" which is a title that will likely stimulate the ears of one of my former co-workers named Mikey. And while the idea sounds solid, I'm eager to see what happens in these secondary auctions while the first $100 billion is being spent and/or squandered.

Is America's economy on its way back?

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