SIFMA Congratulates Senate On Vote To Approve EESA

The Securities Industry and Financial Markets Association’s (SIFMA) president and CEO, Tim Ryan, today released the following statement after the Senate passed of the Emergency Economic Stabilization Act (EESA) of 2008:

"This legislation wisely provides the Treasury Department maximum flexibility to restore the health of our credit markets which will ensure all Americans continue to have access to loans for homes, cars and education. It also guarantees the necessary government oversight and accountability, while building in a series of important protections for taxpayers.

“We expect participation in the plan to be attractive to a broad range of financial service firms. Once the program is underway, it should steadily improve the circulation of capital which is so critical to a well-functioning financial system.”