Quote:
Originally Posted by KarmaContestant
I have to correct you on this. It's the U.S. treasury that is asking for two years. It's the Treasury that amended the proposal to allow buyout of any and all 'troubled assets'. Not the Democrats. The Dems are asking for a one year limit.
You have your facts a little backwards.
Source: http://money.cnn.com/2008/09/22/news...rss_topstories |
You're referring to something different. Although what you are saying is correct, it's a different, but related subject. What I am referring to is Dodd's position that Auto Loans and Credit Cards are under government review, which according to the articles I've read, are not part of what Paulsen is asking for.
What this article says is, "The proposal by Sen. Chris Dodd, D-Conn., the Banking Committee chairman, would give the government broad power to buy up virtually any kind of bad asset — including credit card debt or car loans — from any financial institution in the U.S. or abroad in order to stabilize markets." This is not the same thing that Paulsen wants. There doesn't seem to be a sunset on this provision.
http://news.yahoo.com/s/ap/20080922/...ncial_meltdown