BlackRock is putting together an investment fund that it says will give ordinary Americans a chance to profit from the financial bailouts that they are paying for. The company quietly filed plans on Friday to raise money for the vehicle.
For investors, the potential risks are considerable. The closed-end fund is to buy distressed mortgage securities from financial companies — the very investments that have hurt so many banks. It would be the first product aimed specifically at Main Street that is linked to the government’s now-diminished Public-Private Investment Program, which is meant to help purge these institutions of their worrisome investments.
more at
http://www.nytimes.com/2009/07/27/business/economy/27fund.html
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