Hear: A New Plan For Toxic Assets : Planet Money On today's Planet Money: we break down the Treasury Department's new public-private partnership and hear about its economic and political implications.
NPR logo

Hear: A New Plan For Toxic Assets

  • Download
  • <iframe src="https://www.npr.org/player/embed/102272073/136428880" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
Hear: A New Plan For Toxic Assets

Hear: A New Plan For Toxic Assets

This sign said 50% for only two days before 70% off sticker was pasted over it at lunch time. Alica Preston/Planet Money Facebook group hide caption

toggle caption
Alica Preston/Planet Money Facebook group

Hear: A New Plan For Toxic Assets

  • Download
  • <iframe src="https://www.npr.org/player/embed/102272073/136428880" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">

On today's Planet Money:

-- The Treasury Department unveiled the details of a public-private investment program to help banks get toxic assets off their books today. The plan calls for using $75 to $100 billion from the TARP, Troubled Assets Relief Program, along with funding from private investors, to buy as much as $500 billion worth of these assets. In another Planet Money Radio Dramatization, David Kestenbaum and Caitlin Kenney explain how it's expected to work.

UPDATE: A clarification on our toxic asset theater.

-- The new program already has its critics, but Columbia Business School professor and former investment banker David Beim isn't one of them. Beim says he thinks it's a good plan for the country.

-- The success of the program has big implications for the Obama Administration and Treasury Secretary Timothy Geithner. U.S. policy analyst Sean West of Eurasia Group tells us how he thinks it will play out, politically.

Bonus: Working together in Park Slope, after the jump.

Download the podcast; or subscribe. Intro music: Eric B. & Rakim's "Paid In Full". Find us: Twitter/ Facebook/ Flickr

Seen in Park Slope, Brooklyn. Click to enlarge. Ari Joseph hide caption

toggle caption
Ari Joseph

Seen in Park Slope, Brooklyn. Click to enlarge.

Ari Joseph

Ari writes:

I came across this sign at a restaurant here in Park Slope. I thought it was a novel approach to the economy, and makes me wonder if we'll be seeing more of this.