The federal government's private sector partnership to dispose of toxic bank assets may also be the ideal way to clean up its own sagging balance sheet.
The Treasury Department on Monday extended the deadline for asset managers interested in participating in the Public-Private Investment Program two weeks to April 24, "to better accommodate increased participation."
The move comes two weeks after Treasury and the Federal Reserve said they were seeking to liquidate the so-called Maiden Lane facilities that were created to take on unwanted assets acquired in the rescues of Bear Stearns and American International Group (AIG).
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