Treasury Outlines Framework For Regulatory Reform – Provides new Rules of the Road, focuses first on containing systemic risk -
Four Broad Components of Comprehensive Regulatory Reform:
1.  Addressing Systemic Risk   <<< Has 5 points about systemic risk.
2.  Protecting Consumers and Investors
3.  Eliminating Gaps in Our Regulatory Structure
4.  Fostering International Coordination
Read the Press Release at US Treasury
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A Big Deal:  U.S. Plan Seeking Expanded Power in Seizing Firms – EDMUND L. ANDREWS and ERIC DASH – … began a full-court press on Tuesday to expand the federal government’s power to seize control of troubled financial institutions deemed too big to fail. … – NY Times

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We Need A New Insolvency Regime For Banks - Nouriel Roubini – An essential tool for their nationalization.-  … So in order to orderly take over large, systemically important banks, the FDIC receivership model works only for the bank leg of the bank; it does not work for the bank holding company or for its non-bank financial arms. … – Forbes

More on PPIF:

Fed and Treasury – Putting off Hard Choices with Easy Money (and Probable Chaos) – John P. Hussman, Ph.D. -  Brief remark – … it appears that the Treasury envisions allowing private investors to bid for toxic mortgage securities, but only to put up about 7% of the purchase price … This essentially implies that the government would grant bidders a put option against 86% of whatever price is bid. This is not only an invitation for rampant moral hazard, as it would allow the financing of largely speculative and inefficently priced bids with the public bearing the cost of losses, but of much greater concern, it is a likely recipe for the insolvency of the Federal Deposit Insurance Corporation, and represents a major end-run around Congress by unelected bureaucrats. – Hussman Funds 
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Asset purchases – The Game Changing Proposal – Gaurav Jain  – What is absolutely essential is that the plan gets implemented as proposed – otherwise Geithner will come across as extremely undecisive. There might be political opposition, but this is Obama’s treasury first real proposal. So there is enough political capital to get it started.  I think this is the game changer for banks. For any asset that has been written down to market value, selling into a PPIF will generate a higher price  (GS and MS have probably written down the most to market prices). – Restaurant at the End of the Universe