BUSINESS BRIEFING / REGULATION
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The Treasury Department is making it easier for hedge funds and other private investors to participate in its plan for buying up banks’ bad assets, an acknowledgment of lackluster interest.
Analysts said the move showed the program hadn’t yet attracted enough large fund managers who may be wary of being targeted by a congressional probe or public backlash. The program’s requirements also excluded too many smaller managers, they said.
The government is relying on private investors to buy poorly performing real estate investments currently weighing on bank balance sheets.
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