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U.S. Expands Plan to Buy Banks Troubled Assets

The White House unveiled the details of a plan to buy up to $2 trillion in bad home loans and mortgage-backed securities from banks.
The U.S. government will match investments made by private investors and offer affordable, taxpayer-supported financing to encourage purchases of the troubled mortgage assets.

The Obama administration also plans to create public-private investment funds to buy mortgage-backed securities as well as expand the Term Asset-Backed Securities Loan Facility to include financing for purchases of existing distressed MBS, including those backed by commercial property loans.

Source: New York Times, Edmund, Andrews (03/24/09)

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