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(Image from article: "Toxic assets cleanup plan unveiled by Obama administration")

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Toxic assets cleanup plan unveiled by Obama administration

Treasury Secretary Timothy Geithner says government will spend up to $100 billion to join private investors in buying up to $1 trillion in bad sub-prime mortgages, securities and other ailing assets.

The Obama administration today formally unveiled details of its long-awaited plan to help cleanse banks and financial institutions of bad home loans and toxic securities, making a calculated gamble that partnering with private investors to buy the assets will stabilize the crisis while limiting the

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