The chairman of the Senate Banking Committee and the ranking Republican member on Wednesday ruled out any type of government bailout for delinquent subprime borrowers.At a news conference, Senate Banking Committee Chairman Christopher J. Dodd, D-Conn., said, "This problem can be solved without using" taxpayer money. Sen. Richard Shelby, R-Ala., said "I'd be unalterably opposed" to a government bailout. At the news conference, Freddie Mac chairman Richard Syron unveiled that government-sponsored enterprise's plans to provide $20 billion worth of assistance to delinquent subprime borrowers.
Processing Content
