The Residential Real Estate Crash Index Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Residential Real Estate Crash Index

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Think4Yourself who wrote (147407)	9/17/2008 2:35:46 PM
From: MulhollandDrive	Read Replies (1) of 306849

excuse me, but you consider what's been happening in the past 2 weeks 'sitting around'? and more to come... Dodd Says Fed Has Authority to Set Up Fund to Buy Bad Debts By Viola Gienger Sept. 17 (Bloomberg) -- Senate Banking Committee Chairman Christopher Dodd said the Federal Reserve has the authority to act as an ``effective Resolution Trust Fund'' to buy up and dispose of bad debt stemming from the subprime mortgage crisis. ``The Fed has the authority to move in this area,'' Dodd told reporters in Washington. Dodd said creating a separate agency to take on bad debt, akin to the Resolution Trust Corp. set up in 1989 to absorb losses from savings and loan associations, would take about a year. Instead, the Fed should use its own authority to act. ``Debating whether or not you're going to set up some new agency or bureaucracy in government is a nice point but I don't think we have the luxury of waiting another year,'' Dodd said. To contact the reporter on this story: Viola Gienger in Washington at vgienger@bloomberg.net. Last Updated: September 17, 2008 13:35 EDT -- bloomberg.com.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next