SIFMA Welcomes Sec. Paulson’s Comprehensive Proposal To Relieve Stress On The Financial Markets & Restore Investor Confidence

T. Timothy Ryan, Jr., president & CEO of the Securities Industry and Financial Markets Association (SIFMA), commented on today’s announcement of a new Treasury comprehensive approach to address current market conditions:

“To date, Secretary Paulson and Chairman Bernanke have made some incredibly smart and tough decisions, but it is becoming clear that our markets need a comprehensive approach to address the current conditions. Today Secretary Paulson laid out such an approach and it is bold and very necessary. We are encouraged by Congress’ early reception to this plan and hope it will move with haste to approve it.”

NOTE: During the Savings and Loan Crisis, Tim Ryan was the Director of the Office of Thrift Supervision. As OTS Director, he was the principal manager of the savings and loan clean up which involved closing approximately 700 insolvent institutions, improving capital bases, and selling over $300 billion of assets. Ryan was also a Director of the Resolution Trust Corporation and a Director of the Federal Deposit Insurance Corporation. He is available for interviews. Please contact Travis Larson at 202-962-7357 or tlarson@sifma.org.