The public comment period for this legislation has now ended.

TITLE I - Authorizing the Treasury Department to Buy Mortgage-Related Assets

Sec. 14. Credit reform. (2 Comments) subscribe to the comments feed

[To Be Supplied by Budget Committee].

2 comments on Sec. 14. Credit reform.

  • Putting this here, though it's probably not the right section.

    I also don't see any real re-regulation of the industry in this bill. That needs to occur, and it needs to be in the bill, because once Wall Street has their bailout they will fight against being properly regulated tooth and nail. This needs to include very strict rules not allowing the use of default insurance any more, getting rid of most different types of swaps, regulations limiting the use of securitization and limits on how debt in general can be sold. (In particular, debt should probably not be able to be sold more than once, and originators should be forced to keep at least half on their books to avoid them selling stuff they know is crap.)

    posted by Ian Welsh, Firedoglake (www.firedoglake.com) at September 22, 2008

  • I think your comment belongs on the general comments to the bill:
    http://publicmarkup.org/bill/dodds-le...

    But in general: This is a bill designed to head off an emergency. Long-term reform issues are not the purpose here.

    posted by Mithras Invicti, blog Fables of the Reconstruction at September 23, 2008
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