Lawmakers urge Treasury, Fed to extend TALF

08/3/2009 | · CNNMoney

Forty-one members of Congress, led by Rep. Paul Kanjorski, D-Pa., sent a bipartisan letter to U.S. Treasury Secretary Timothy Geithner and Federal Reserve Chairman Ben Bernanke on Friday urging them to extend by one year the Term Asset-Backed Securities Loan Facility, which is set to expire Dec. 31. "The $6 trillion commercial real estate market has recently experienced a massive credit shortfall, which the TALF program has only just begun to help stabilize," Kanjorski said. The letter also urged Geithner and Bernanke to publicly announce the extension by mid-August.

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