The public comment period for this legislation has ended.

Treasury's Legislative Proposal From Treasury Department for Authority to Buy Mortgage-Related Assets

10 section comments

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

Sec. 3. Considerations.


In exercising the authorities granted in this Act, the Secretary shall take into consideration means for





  1. providing stability or preventing disruption to the financial markets or banking system; and





  2. protecting the taxpayer.




General Comments on Treasury's Legislative Proposal From Treasury Department for Authority to Buy Mortgage-Related Assets

anonymous on September 22, 2008

Suggest switching the order of 3.a and 3.b. The financial markets and banking system are to be aided to the minimum amount necessary to protect the taxpayer.

Anonymous on September 22, 2008

Capping the salaries and bonus packages of all executives of these firms at $150,000. The taxpayer should not be responsible for the executive salaries and golden parachutes.

Mark on September 23, 2008

3(c) Any private corporation benefiting from the bailout is subject to a federal surtax (1-10%) on its future profits until its debt to the US Treasury is repaid.

Ryan on September 24, 2008

This should be a $700 billion loan with a very high APR, which we can change at any time without notification. Heavy penalties to be assessed if a payment is late.

Ryan on September 25, 2008

Lets clear this up:

Time to nationalize our poor choices. I believe the best I have ever heard it explained was 'privatize the profits, nationalize the loss.'

So this is how this shoud be written:

The Secretary shall take care of big business and hammer Main Street and future generations. Lets take care of our 'democratic capitalism' as our wonderful President said last night.

Midwerstern on September 26, 2008

3a: Too little too late for providing stability or preventing disruption to the financial markets or banking system; and 3b: Since when has anyone in Washington DC thought about protecting the taxpayer.

brass monkey on September 27, 2008

This bill has been in the works for over 1 month. It was only the American sheep weren't aware that there was an implosion.

By the way - There is an intentional drain of "slosh", or liquidity, from the banking system. $125 billion in the last four days drained?

You wouldn't be trying to intentionally cause a bank failure or two to bolster your call for the $700 billion "bailout" plan, or perhaps intentionally lock the short-term credit markets, would you Ben?

If the market has a liquidity crisis, why would you be intentionally draining reserves from the banking system? Don't you think you ought to explain that to Congress