At last it seems to have arrived, the much discussed PPIP. The Treasury has released the names of the managers and minority managers and indicates that the program, or at least part of it is on go. From the press release, here are the managers of the program: AllianceBernstein, LP and its sub-advisors Greenfield Partners, […]
Posts Tagged ‘ppip’
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PPIP For Community Banks?
Posted by Tom Lindmark on June 29th, 2009
The Wall Street Journal had a front page article today on the PPIP, analyzing why it has failed to get off the ground and suggesting that the failure was thwarting efforts to help smaller banks. As you probably recall the PPIP was originally going to attack two problems. Legacy securities and legacy loans at banks. […]
Treasury To Raise PPIP From The Crypt
Posted by Tom Lindmark on June 24th, 2009
No matter how bad the idea, once it’s been given life and funding it seems that in Washington it’s impossible to kill. The case in point tonight is the PPIP. Yes, that program, the apparent death of which a couple of weeks ago caused you to breathe a sigh of relief. Well not so fast, […]
PPIP Starting To Die On The Vine
Posted by Tom Lindmark on May 27th, 2009
In the immortal words of Lily Tomlin, “Never mind.” That seems to sum up the fate of the PPIP. The WSJ is reporting that the whole program is stalling and may go into the deep freeze. A government program designed to rid banks of bad loans, part of a broader effort once viewed as central […]
Bair Nips Banks PPIP Plans In The Bud
Posted by Tom Lindmark on May 27th, 2009
Sheila Bair may have her failings but being politically tone deaf isn’t one of them. She has ruled out a suggestion that banks be allowed to buy their own assets as participants in the PPIP. From Bloomberg: “There should be no confusion: Banks will not be able to bid on their own assets,” Bair said […]
Get Your Piece Of The PPIP
Posted by Tom Lindmark on April 8th, 2009
Rejoice! The government has figured out a way to help you recapitalize those 401K’s and IRA’s. That retirement may be closer than you think. Plans are afoot for all of the great unwashed to participate in PPIT. Yes, you can cash in along with the heavy hitters. They’re going to put together a mutual fund […]
The Inherent Dishonesty Of PPIP
Posted by Tom Lindmark on April 6th, 2009
Institutional Risk Analyst has a very technical post up about PPIP. Unless you have some familiarity with options pricing it might be a little dense but the conclusions the author draws are in plain English. Why the complicated structure? Innocent answer: Treasury is unwilling/afraid to ask the Congress for the funds or authority to write […]
