1/9/2009

In a letter to colleagues, House Financial Services Chairman Barney Frank, D-Mass., outlined six provisions he said should be in place before the second half of the $700 billion Troubled Asset Relief Program funds is released. "If we are able to get guarantees that funds will be re-lent, a reduction in mortgage foreclosures, aid for the purchasers of automobiles, help for tax-exempt bond issuers and for home buying going forward, then I believe the $350 billion could make a very important contribution to our economic efforts," Frank wrote.

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