Renowned asset manager Wilbur Ross is willing to invest up to $1 billion in the Treasury Department's Public-Private Investment Program as part of money manager Invesco Ltd.'s application to participate in the government's effort to relieve banks of toxic assets, Invesco said Monday. Ross is chairman of WL Ross & Co., the distressed-investment affiliate of money management giant Invesco Ltd. of its Invesco Private Capital unit. The $1 billion investment will come from existing Ross and Invesco funds. In addition, Invesco's application to participate in the Treasury plan calls for Ross to work with Invesco's fixed-income team and a diverse group of investment firms to manage the assets it would buy through the program. "The linchpin of the U.S. economy is residential housing," said Ross in an interview with MarketWatch. "With decent due diligence, the six-to-one leverage at a fairly cheap rate [under the Treasury plan] should produce good return on equity." Ross will also work with noted real estate managers at the LeFrak Organization. Additional investment may be forthcoming from LeFrak, whose chief executive, Richard LeFrak, will join the supervisory council of the investment group, which will be chaired by Wilbur Ross. Assured Guaranty Ltd. and American Home Mortgage Servicing Inc. will also be part of the group. Both companies are controlled by Ross. ... Ross said his large investors were "excited and interested." http://www.marketwatch.com/news/sto...x?guid={AEF2E881-2A3F-42E3-AF17-F62C7B34B565} Exited and interested distressed securities investors...LOL !