Treasury describes its own PPIP design, Treasury equity and debt support, and privately managed PPIFs. BlackRock was one of nine original managers, not the designer of TARP.
On March 23, 2009, Treasury announced the Legacy Securities Public-Private Investment Program (PPIP), which was designed to support market functioning and facilitate price discovery in the markets for legacy Commercial Mortgage-Backed Securities (CMBS) and non-agency Residential Mortgage-Backed Securities (RMBS).
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Treasury describes its own PPIP design, Treasury equity and debt support, and privately managed PPIFs. BlackRock was one of nine original managers, not the designer of TARP.