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...Treasury Department's program to buy toxic loans could cost banks as much as $210 billion. That's the losses the financial firms will book from selling poorly performing loans as part of the government's recently announced Public-Private Investment Plan. What's more, if a recently proposed accounting rule change is not made, PPIP's bottom line effect on the banks could be more than triple that...

Author: /time Magazine | Title: Geithner's Toxic-Loan Plan Could Be Toxic for Banks | 3/31/2009 | See Source »

...government's plan is a nice thought, but it is just not going to work," says Paul Miller, who follows banks stocks at FBR Capital Markets. "None of these banks have the capital necessary to recognize these losses...

Author: /time Magazine | Title: Geithner's Toxic-Loan Plan Could Be Toxic for Banks | 3/31/2009 | See Source »

...much of the public reaction to the Treasury Department's plan to dislodge risky loans and poorly performing bonds from banks has been positive. After the plan was announced two weeks ago, the stock market produced one of its biggest rallies in months. At its core, the plan promises to offer cheap loans to investors to purchase bank loans on which borrowers are behind or at risk of default. The plan would put needed cash into the hands of the banks. And on the surface it looks like it could produce sizeable returns for investors, as well as a smaller...

Author: /time Magazine | Title: Geithner's Toxic-Loan Plan Could Be Toxic for Banks | 3/31/2009 | See Source »

...compensate them for the risk that a mortgage will end up delinquent or in foreclosure. A price of $0.26 implies that investor are looking to get paid at least 40% to take on the risk of an existing mortgage loans these days. (Read "Why Berlin Says U.S. 'Bad Bank' Plan...

Author: /time Magazine | Title: Geithner's Toxic-Loan Plan Could Be Toxic for Banks | 3/31/2009 | See Source »

...mortgage loans they sell, and get cash for, but on all of the mortgage loans on their books. Banks hold about $3.5 trillion in mortgage loans. So having to mark all those loans down $0.21, not just the ones that are sold, would be disastrous. (Read "Geitherner's Bank Plan: Only a Partial Solution...

Author: /time Magazine | Title: Geithner's Toxic-Loan Plan Could Be Toxic for Banks | 3/31/2009 | See Source »

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