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March 23, 2009


steve sturm

Me thinks you have it backwards, this refers to loans TO the funds from Treasury, in which case it's good for the funds that interest wouldn't be due until the wrap up date... not so good for the taxpayer.

Fresh Air

I'm not clear what the term "fund" means. Does it mean the structured entity, or the equity investor in the structured entity?

Charlie (Colorado)

You know how it is when you have to rush to get something like this out.


The term sheet says "Fund Managers must agree to waste, fraud and abuse protections for the Fund to be defined by Treasury in order to protect taxpayers."

Imagine the liablity risks for the five Fund Managers who will manage the shared equity investments of 3rd party investors and the US Treasury. I'd want some pretty strong disclaimers if I were on the side of the Fund Managers.


Its a PIK BOND! Another one of wall street innovations! Now the government is in the structured finance ponzi scheme business!!

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