Key to the plan would be a so-called bad bank--a repository for toxic or non-performing assets which has been considered for other government initiatives as well but yet to be implemented. The approach was confirmed by James B. Lockhart III, director of the Federal Housing Finance Agency, who announced his resignation on Wednesday.
Reportedly the plan was first seriously considered earlier this year and is now entering more substantive planning.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
