WASHINGTON, DC-The Obama administration's Public-Private Investment Program promises to yield record profits for taxpayers. Under the program, the government granted cheap loans and matching funds to various investment companies as incentive to purchase mortgage securities from various financial institutions and banks.
The eight investment funds selected by the Treasury Department have already made 15.5% in returns for taxpayers. Other investment funds operated by BlackRock and an Angelo, Gorden-GE Capital consortium have generated record returns exceeding 20%. For the full story, go to The New York Times.
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