The public comment period for this legislation has ended.

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

2 section comments

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

Sec. 5. Rights; Management; Sale of Mortgage-Related Assets.




  1. Exercise of Rights.The Secretary may, at any time, exercise any rights received in connection with mortgage-related assets purchased under this Act.





  2. Management of Mortgage-Related Assets.The Secretary shall have authority to manage mortgage-related assets purchased under this Act, including revenues and portfolio risks therefrom.





  3. Sale of Mortgage-Related Assets.The Secretary may, at any time, upon terms and conditions and at prices determined by the Secretary, sell, or enter into securities loans, repurchase transactions or other financial transactions in regard to, any mortgage-related asset purchased under this Act.





  4. Application of Sunset to Mortgage-Related Assets.The authority of the Secretary to hold any mortgage-related asset purchased under this Act before the termination date in section 9, or to purchase or fund the purchase of a mortgage-related asset under a commitment entered into before the termination date in section 9, is not subject to the provisions of section 9.




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

Midwestern on September 26, 2008

5a: An individual taxpayer would be better off having a private home on the edge of the San Andreas Fault than: The Secretary may, at any time, exercise any rights received in connection with mortgage-related assets purchased under this Act. 5b: Already proven to be a bad landlord (look at the condition of Public Housing) The Secretary shall have authority to manage mortgage-related assets purchased under this Act, including revenues and portfolio risks therefrom. 5c: Please provide to the taxpayers the name of the entitlement program/special interest that wilL receive the revenue from The Secretary …, at any time, upon terms and conditions and at prices determined by the Secretary, sell, or enter into securities loans, repurchase transactions or other financial transactions in regard to, any mortgage-related asset purchased under this Act. 5d: There is never a “Sunset” to a government hand-out program or job.