SIFMA, banking groups urge "balanced" subprime fix

06/28/2007 | Wall Street Journal, The

Five bank trade groups, including the Securities Industry and Financial Markets Association, will support balanced measures to end the subprime-mortgage crisis, but they are concerned about some current fixes now being debated by Congress. "Legislative or regulatory proposals that would arbitrarily restrict the availability of mortgage credit are not an appropriate response to current market conditions," the trade groups said in letters to Sens. Christopher Dodd, D-Conn., and Richard Shelby, R-Ala., and to Reps. Barney Frank, D-Mass., and Spencer Bachus, R-Ala.

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