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http://news.yahoo.com/s/ap/20090322/ap_on_go_pr_wh/bank_rescue

Treasury's toxic asset plan could cost $1 trillion

WASHINGTON – The Obama administration's latest attempt to tackle the banking crisis and get loans flowing to families and businesses will create a new government entity, the Public-Private Investment Program, to help purchase as much as $1 trillion in toxic assets on banks' books

A key part of that regulatory framework will give the government new resolution authority to take over troubled institutions that would pose a threat to the entire financial system if they failed.

Under the new powers being sought by the administration, the treasury secretary could only seize a firm with the agreement of the president and the Federal Reserve.

The initiative will seek to entice private investors, including big hedge funds, to participate by offering billions of dollars in low-interest loans to finance the purchases. The government will share the risks if the assets fall further in price.

[QikEnuF]

smoochie boochie, bitchez! Nationalization. Now we are like our socialist comrades Venezuela