Lawmaker pushes for release of TARP's remaining $350B

12/23/2008 | Google

U.S. Rep. Barney Frank, chairman of the House Financial Services Committee, wants the remaining $350 billion of the Troubled Asset Relief Program to be released before President-elect Barack Obama is inaugurated next month. The Democrat said he is drafting legislation that would require some of the money to be spent on curbing foreclosures, reducing interest rates on mortgages and other purposes. Meanwhile, developers of commercial real estate are striving to get their piece of the rescue fund.

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