WASHINGTON, DC – House Majority Leader Steny H. Hoyer (MD) released the following statement today after Treasury Secretary Geithner unveiled the Administration’s Public-Private Investment Program this morning:
“The plan announced by Treasury Secretary Geithner this morning is another positive step toward ending the current financial crisis. This program, in conjunction with measures to restore the flow of credit to individuals and small businesses and address the underlying housing crisis, will help stabilize our financial system.
“The Public-Private Investment Program will set up a way for banks to get rid of legacy assets that have clogged lending and reduced confidence. Risk will be shared by the private sector, helping to protect taxpayer money.
“This program is just one part of an ongoing, comprehensive strategy to get our nation’s economy moving again. The financial stabilization plan, combined with the American Recovery and Reinvestment Act and the budget outline moving through the House Budget Committee this week, will restore economic growth and help families struggling under this recession.”