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US Treasury to sell $142 bn worth of toxic assets

Posted By admin On March 21, 2011 @ 9:06 am In Money Watch | Comments Disabled

AFP [1]
March 21, 2011

The US Treasury Department said on Monday it would begin to sell-off toxic assets worth an estimated $142 billion, in an effort to close another chapter of the financial crisis.

“We will exit this investment at a gradual and orderly pace to maximize the recovery of taxpayer dollars and help protect the process of repair of the housing finance market,” said Treasury official Mary Miller.

The department said it would offload up to $10 billion in mortgage-backed securities (MBS) — assets which bundle together large numbers of often distressed mortgages — each month.

The products, secured by state-backed mortgage giants Fannie Mae and Freddie Mac, were bought as part of the 2008-2009 financial sector bailout.

Full article here [1]

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US Treasury to sell $142 bn worth of toxic assets  161008pptv3 [3]

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[1] AFP: http://www.google.com/hostednews/afp/article/ALeqM5iCto607E4JRcnpC0qDGm1OjG3xLw?docId=CNG.c1a375e7c725666e2ee5e250a84aa0a7.131

[2] Stock up with Fresh Food that lasts with eFoodsDirect (AD): http://www.efoodsdirect.com/

[3] Image: http://prisonplanet.tv/

[4] Mortgage-backed securities that brought about the financial crisis earned the U.S. Treasury $25 billion: http://www.prisonplanet.com/mortgage-backed-securities-that-brought-about-the-financial-crisis-earned-the-u-s-treasury-25-billion.html

[5] Treasury Presses Ahead With Plan For Toxic Assets: http://www.prisonplanet.com/treasury-presses-ahead-with-plan-for-toxic-assets.html

[6] U.S. bailout panel: toxic assets may need more Treasury support: http://www.prisonplanet.com/u-s-bailout-panel-toxic-assets-may-need-more-treasury-support.html

[7] US unveils public-private plan for toxic assets: http://www.prisonplanet.com/us-unveils-public-private-plan-for-toxic-assets.html

[8] U.S. Treasury to sell $5 billion of AIG stock: http://www.prisonplanet.com/u-s-treasury-to-sell-5-billion-of-aig-stock.html

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