State benefit funds weigh toxic assets: report

The Record said benefit officials from New York City, New York state, New Jersey and Connecticut met with Sheila Bair, skull of the Federal Deposit Insurance Corporation, on Friday. Other states included Pennsylvania, California and Florida.

The newspaper said states are interested in investing in the Public-Private Investment Program representing Legacy Assets because they believe could furnish a agreeable come on investment.

The program, unveiled close by the U.S. Treasury, would furnish federal funding to form public-private partnerships that would buy up so called "legacy assets," including commercial and residential mortgages and securities, the newspaper said.

(Reporting close by James Kelleher; Editing close by Xavier Briand)