Report: Super-SIV Fund Dead

A federal government-spearheaded effort to launch an investment fund coordinated by major banks exposed to bleeding investment vehicles has been dropped, according to a published report.

Bank of America(BAC Quote), Citigroup(C Quote) and JPMorgan Chase(JPM Quote), prodded by Treasury Secretary Henry Paulson, have been working since September to raise money for the fund to invest in troubled, so-called structured investment vehicles, or SIVs. Now, they are ready to abandon the effort, according to the Wall Street Journal.

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