The U.S. government must be one ugly date. Treasury Secretary Tim Geithner will offer up to 97% taxpayer financing for public private partnerships (PPP). Private investors only need pony up 3% to have a shot a big profits from toxic bank assets. Up to 85% of funds come from cheap nonrecourse loans. If the products implode, the PPP can hand back the junk and walk away from the taxpayer subsidized loan.
However, those terms aren't attractive enough. What do the private equity underwriters (PEU's), hedge funds and sovereign wealth funds want? The NYT reported:
1. Non or limited disclosure
2. No compensation limits or special tax increases
3. Clear, unchanging governance rules
The Obama team has given the big money boys reason to participate. Another $1 trillion round of corporafornication is in order. Belly up to the bar!
However, those terms aren't attractive enough. What do the private equity underwriters (PEU's), hedge funds and sovereign wealth funds want? The NYT reported:
1. Non or limited disclosure
2. No compensation limits or special tax increases
3. Clear, unchanging governance rules
The Obama team has given the big money boys reason to participate. Another $1 trillion round of corporafornication is in order. Belly up to the bar!
