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Washington
Inside Washington (04/25/2011)
* WASHINGTON (4/26/11)--The Treasury Department said in a report that the Public-Private Investment Program (PPIP), created in 2009 to allow the government and investment firms to buy assets from banks, earned about $1.7 billion in the first quarter (The Hill April 25). PPIP brought in about $523 million in cumulative equity distributions and around $1.2 billion in unrealized gains, according to Treasury. Public-private investment funds had withdrawn about $20.9 billion--or about 71%--of the $29.4 billion in debt and equity capital that had been committed to the program, according to the report. Treasury previously had announced PPIP’s 2010 fourth-quarter gains at $314 million in cumulative equity distributions and $1.08 billion in unrealized gains …


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