Has Ron Paul commented on the alternative plan fromSubmitted by celticavenger on Fri, 09/26/2008 - 11:12
the House GOP? This is being called the insurance plan that would be funded by Wall Street fees. A description I've read, follows:
The proposal offered by House Republicans led by representative Eric Cantor calls for a mortgage-backed security insurance fund, rather than taxpayer-funded purchases of those securities. The plan calls on the US Treasury to design a system to charge premiums to MBS (mortgage-backed securities) holders to finance this insurance, a fact sheet said.
Republicans are also seeking "temporary tax relief" provisions aimed at allowing financial companies to free up capital. They also suggests regulators call on financial institutions to suspend dividends, along with other steps to address liquidity problems.