The Securities Industry and Financial Markets Association’s (SIFMA) president and CEO, Tim Ryan, praised the U.S. House of Representatives for passing the Emergency Economic Stabilization Act (EESA) of 2008 after a second vote.
“We expect a broad range of financial service firms to participate in the program,” Ryan says. “Once mechanisms to sell illiquid assets to the government are established, we believe liquidity and credit availability will significantly improve. We believe this bill contains the right mix of taxpayer protection and the necessary government oversight.”