U.S. to soon launch bank toxic asset plan: Treasury
"I'm confident that very soon we'll be launching partnerships," said Herb Allison to the Congressional Oversight Panel. "We've made a great deal of progress."
Allison, who was confirmed last week as Treasury assistant secretary to head the Troubled Assets Relief Program (TARP), said "it shouldn't be long" before Treasury announces the first stage in the delayed toxic asset plan called the Public-Private Investment Program (PPIP).
(Reporting by Karey Wutkowski and Glenn Somerville; Editing by Diane Craft)