"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".
No comments:
Post a Comment
Comments are welcome, pro or con, but keep it clean. Your humble host reserves the right to delete comments that don't make the grade. Although anonymous comments are allowed, they're not encouraged. If you can't put your name on it, maybe you shouldn't post it.
Note: Only a member of this blog may post a comment.