Obama Administration to Apply Theme of Change to Financial Policies
Peter Peyser, a principal within Blank Rome Government Relations, recently spoke with American Banker regarding the change President-Elect Obama may bring to financial policies.
"Given the flexibility that the law gives to the management" of the Troubled Asset Relief Program (TARP), "the Obama team will have significant ability to tailor their own approach," said Mr. Peyser.
The list of potential changes will include tougher terms for companies accepting government capital, a U-turn on buying troubled assets, and moves to bulk up Fannie Mae and Freddie Mac. The Obama administration is also expected to launch some initiatives of its own, such as a more aggressive approach to modifying mortgages so borrowers can avoid foreclosure.
“Financial Policies in Transition: Where Obama May Seek Change” by Steven Sloan appeared in American Banker on November 14, 2008.