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STOCKS NEWS US-Treasury may name nine fund managers for PPIP
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0821 ET 02July2009-Treasury
may name nine fund managers for PPIP
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The U.S. Treasury Department is expected to name as many as nine fund
managers to operate the long-awaited Public-Private Investment Program (PPIP)
to cleanse banks of toxic assets, a person familiar with the plan said on
Wednesday.
An announcement from Treasury could come as soon as Thursday, the person
said, adding that the roster of firms is likely to include Allianz SE's Pacific Investment Management Co, or Pimco; BlackRock Inc;
billionaire Wilbur Ross and private investor Angelo Gordon & Co.
A Treasury official could not be reached immediately for comment.
For details, see
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