Geithner will really bring in private investment as part of the rescue plan?

Geithner Seeks Private Investment for Toxic Assets (Update3)

Feb. 9 (Bloomberg) -- Treasury Secretary Timothy Geithner is seeking to draw investors into the U.S. financial-rescue program, aiming to add private funding as a new component of proposals to address the toxic debt clogging banks’ balance sheets.

Aides worked through the weekend to complete the package that Geithner will announce tomorrow in Washington, which was delayed by a day. Aspects of the plan that have been settled include a new round of injections of taxpayer funds into banks, targeted at those identified by regulators as most in need of new capital, people briefed on the matter said.

The rest of the article doesn't mention how he plans to pull off this miracle. It's presumably the same way that Obama will make Russia, Iran and North Korea play nice: hope!

However, apply a little reasoning, and the lie becomes evident.

If there were any possibility of a decent profit for the risk, private investors would have jumped into things long before Geithner had been dreamt of as a nominee for Treasury Secretary. The fact that government must "lure" private investment means that private individuals are reluctant to jump in. Government can swear up and down the water's fine, but people are afraid the pool might really be filled with piranha or just empty.