Widely misunderstood? Whomever do they have in mind? I penned several posts back in the early days of TARP explaining how the purchase of banks assets *at a fair value* could help recapitalize the banks by (a) improving their asset to capital ratio, and (b) reducing their volatility and making them more appealing to lenders and equity investors frightened by the prospect of bankruptcy. I would say that lefties intent on promoting the nationalization of Citicorp and BofA were also intent on misrepresenting TARP and the ensuing PPIP.
That said, it should be easy enough to dig up the Congressional testimony and press briefings pitching TARP and PPIP. I suspect we will see talk of the promotion of price transparency and maybe less on reducing volatility and attracting private investment than the current Treasury backgrounders would prefer.