Getting your player ready...
WASHINGTON — The Treasury Department said Friday that an investment program set up during the financial crisis to buy toxic assets from banks is showing a $1.7 billion gain.
The department committed $22.1 billion in taxpayer funds to the Public-Private Investment Program, which was created in March 2009. The money has been used to set up funds that have invested in mortgage-backed securities and other financial assets.
The goal is to take those assets off the books of large banks that were facing huge losses from bad real estate investments during the housing bubble.
