BERNAKE/PAULSON Seek Support For An Agency To Buy Bad Debt
FYI The Changes Come Daily
www.bloomberg.com/apps/news?pid=20601087&sid=auCzaUuqODfc&re...
.....`The Federal Reserve and the Treasury are realizing that we need a more comprehensive solution,'' said Schumer, who today proposed an agency to pump capital into troubled banks. ``I've been talking to them about it,'' Schumer, a Democrat who chairs the congressional Joint Economic Committee, told reporters in Washington today.
Schumer urged forming an agency to inject funds into financial companies in exchange for equity stakes and pledges to rewrite mortgages and make them more affordable.
Schumer advocated a Great Depression-era Reconstruction Finance Corp. model, different from the Resolution Trust Corp.- type plan others have floated. Another RTC, which was a 1990s agency that sold devalued assets in the Savings and Loan Crisis, would ``simply transfer excessive risk to the U.S. government without addressing the plight of homeowners,'' he said.
I want THAT /YOU get this
ELECT IDIOTS & you'll get turtle soup.with a twist of BS
says
bad debt agency
THEY already have all that, the FED. IT'S the PEOPLE stupi-.
says
Chuck Schumer...
Leave it to Chuck to yearn for yet another "agency" born out of thirst for more government control. This is typical of Mr. Schumer. He really should stick to his usual undermining of the Second Amendment because that is his un-Constitutional forte.
I think
the answers lay in your title "Bad" debt.
Let the private bankers
of the Federal reserve buy it
That's right Chuck -- the
That's right Chuck -- the gov't certainly can't take excessive risk without getting excessive control in return.
~~~ Citizenship is not a spectator sport! ~~~
Penfield, Monroe County, New York
I second that to all of it
I second that to all of it
"We must re-take the Republican Party"-Ron Paul. http://www.youtube.com/watch?v=NlqXq8YxQFQ