Ross to tap PPIP, why not others?

April 28, 2009 | By Jim Kim

Here's a tangible sign that businesses remain wary of government when it comes to financial reform. The government's PPIP offers, on the surface, some very sweet terms for asset management companies to speculate on distressed assets. Some are bent on jumping in. But not enough as of now.

WL Ross & Co., headed by turnaround maven Wilbur Ross, tells Business Week he wants to invest as much as $1 billion. BlackRock, Pimco and others have also voiced some support. But for the most part, the TPPIP has not ignited a flood of business. The slow start may yet yield to more enthusiasm once a few big firms break the ice. The fear of government intrusion, on salaries and other matters, remains palpable. TALF also looks like a slow-starter. Stay tuned.

For more:
- here's the Business Week article on Ross