Friday, May 22, 2009

Geithner: PPIP Will Be Up And Running Within Six Weeks

AFP reports that U.S. Treasury Secretary Timothy Geithner, speaking at a hearing of the Senate Banking Committee, expects the Public-Private Investment Partnership program to begin operating within six weeks. As we reported earlier, the U.S. Treasury has received applications from more than 100 asset managers to participate in the program. Secretary Geithner informed the congressional panel that the "Treasury is evaluating a select group of finalists and will inform applicants of their preliminary qualifications in the next several weeks."