Summers: Private Investors Stepping Up to Buy Toxic Assets

Larry Summers, director of the White House’s National Economic Council, said in an interveiw on Bloomberg Television’s “Political Capital with Al Hunt,” scheduled to air this weekend that “There have been many expressions of interest in providing that private capital.”

You can't know exactly what is going on here, unless you know the terms of the deals. Just what is it that private capital(read: Carlyle Group and the like) are expressing interest in? What price? What terms? What guarantees?

This smells like an insider deal from start to finish, with David Rubentein negotiating against Timothy Geithner. Geithner has a better chance in a sumo wrestling event against Mexican finance minister Agustin Carstens.