Remember the bank bond fund? Forget it.

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Remember that big fund the banks were putting together back in October to pool and bail out various bad investments they had made? You remember, the $80 billion super duper fund? Well, forget about it.

This from CNBC.com this afternoon: ‘Major banks have abandoned plans to set up a bailout fund for subprime-related debt, mainly because not enough banks were willing to participate.’

More: The fund, ‘... was intended to buy the assets of ailing so-called ‘Structured Investment Vehicles’ in order to prevent a fire sale of billions of dollars worth of shaky debt. But a source close to the situation told CNBC that the fund is being dropped because of a lack of interest from banks in contributing to the fund and a lack of high quality assets that these SIVS were willing to sell.’

Thoughts? Analysis? Email story tips to peter.viles@latimes.com.