"Today, we are announcing another critical piece of our plan to increase the flow of credit and expand liquidity," Treasury Secretary Tim Geithner writes in today's Wall Street Journal. "Our new Public-Private Investment Program will set up funds to provide a market for the legacy loans and securities that currently burden the financial system."
Note that, branding experts?
"Toxic assets" are now called "legacy loans." (Also: "legacy securities.")
"Toxic assets" was too yucky. "Legacy" sounds nice. Next they'll be calling them "Lucky Charms assets".
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