A Two-Sided Auction for Legacy Loans
Abstract
On Monday, 23 March 2009, Treasury Secretary Geithner presented the Public-Private Investment Program as a key instrument to resolve the financial crisis (www.financialstability.gov). The Treasury’s description still leaves many issues unanswered. We flesh out the auction design for legacy loans. A two-sided auction is required. Both banks and private investors must compete in a transparent and competitive process.Suggested Citation
Peter Cramton. 2009. "A Two-Sided Auction for Legacy Loans" The Selected Works of Peter Cramton
Available at: http://works.bepress.com/cramton/156