The Super Siv Is Shrinking, Possibly Dying?

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The Super Siv is not working out. According to Robin Sidel's article in today’s Wall Street Journal, expected investors are balking. “The nation’s three biggest banks have started to formally ask other financial institutions to join the fund, but some firms that were expected to sign up are now not as interested,” Sidel reports. “As a result, the fund’s ability to provide a solution for the credit crunch is more uncertain than ever, according to people involved in the situation.”
Just the other day, CNBC’s Charlie Gasparino reported that the Super Siv may be whittled down to just a third of its expected size. Can a 30 billion dollar fund really do the job the Super Siv was meant to do? How long until we get to stick a fork in this thing?
Enthusiasm Wanes for Fund to Bail Out SIVs [Wall Street Journal]

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