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US adds names to toxic scheme

US AUTHORITIES have approved a further three giant investment firms to participate in its programme of buying up toxic assets from troubled banks.<br /><br />BlackRock, AllianceBernstein and Wellington Management Company have been invited to join the Treasury Department programme.<br /><br />Together the trio will invest $1.94bn (&pound;1.2bn) in the real-estate related troubled assets, taking the purchasing programme&rsquo;s total capacity to a giant $12.27bn.<br /><br />Invesco and TCW were the first to join the programme last week.