Items Tagged with 'Paul Kanjorski'


  • Congress Urges Broader TALF Timeline for CMBS

    Rep. Paul Kanjorski, D-Pa., and Rep. Gary Miller, R-Calif., issued a letter Friday to Treasury Department secretary Tim Geithner and Federal Reserve chairman Ben Bernanke, urging an extension of the Term Asset-Backed Securities Loan Facility (TALF) for commercial mortgage-backed securities (CMBS) through next year.
    Read More
  • Bill Pushes for Government Hand in Covered Bonds

    Rep. Scott Garrett (R-NJ) and Rep. Paul Kanjorski (D-PA) on Tuesday introduced the Equal Treatment for Covered Bonds Act, which urges the same legal protections and considerations for covered bonds as for other financial products. The legislation aims to make greater stability and permanence for covered bonds as a liquidity-providing investment tool. Covered bonds are distinct from securitization in many ways. The dual recourse feature, where issuers cover loses on the bonds, is more expensive and the use of bullet redemptions are not historically to the taste of American investors.
    Read More
  • FASB Acts!

    At last week’s House hearing on mark-to-market accounting, representatives from both sides of the aisle blamed accounting standards for skewering bank balance sheets and demanded, as Congressman Paul Kanjorski (D-PA) put it, that “the Financial Accounting Standards Board and the Securities and Exchange Commission to do the jobs they are required to do. Emergency situations require expeditious action, not academic treatises. They must act quickly.”
    Read More