That does make a lot of sense adwebster, thanks. I'm fairly new...

That does make a lot of sense adwebster, thanks. I'm fairly new to this stuff but I can see how a "thankyou" from bankerland can cause hysteria like we saw lastnight. No-one wanting to miss the boat and all that.

from http://www.npr.org/templates/story/story.php?storyId=102250826

"If this toxic-asset cleanup works, will the banking sector become healthy again?

The problems in the banking sector are too large for this program to solve on its own. Even if the PPIFs work as planned, they will absorb only about $1 trillion worth of bad assets. But analysts believe the total value of toxic assets in the banking system is close to $5 trillion. This program is at best only a start."

So, where does it all end and how much will it cost US taxpayers?

from the same article...

"If the value of the assets purchased by the PPIFs go up, the private investors make a hefty profit. If on the other hand the assets prove to be worthless, the private investors will lose only their cash contribution. Their debt will be excused. From this perspective, U.S. taxpayers are subsidizing the private investors' purchase of the toxic assets, the critics say. "

Guess it depends which of the assets make a hefty profit and which become worthless. Or should that be MORE worthless! They'll probably be the ones offloaded to the pension schemes.

Bastards.