sentences:  At the time, Coşea was among the initiators of mass privatization strategies, and organized the latter as a release of coupons to citizens, to be transformed into stocks ("see History of Romania since 1989").Although the measure was initially received with interest, the program was ultimately unsuccessful and most businesses up for privatization did not attract investors' attention (by late 2006, a third of them had gone bankrupt or were about to do so).Coşea attributed this negative phenomenon to the underdevelopment of the local capital market, as well as to strategy errors of both the PDSR majority (who had refused to give backing by privatizing Bancorex and Banca Agricolă) and the new Democratic Convention cabinet of Victor Ciorbea (who changed the privatization law to accommodate an initial public offering, viewed by Coşea as more susceptible to political corruption).