McCain Urges Treasury Department To Take Action - NBC Right Now/KNDO/KNDU Tri-Cities, Yakima, WA |

McCain Urges Treasury Department To Take Action

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DES MOINES, Iowa (AP) - Republican presidential nominee John
McCain is urging the Treasury Department to intervene aggressively
to limit damage from the financial meltdown, action that McCain
says President Bush can take with the stroke of a pen.
Opening a business round-table Tuesday in Des Moines, Iowa,
McCain said he has urged the Treasury to use its exchange
stabilization fund "as creatively as possible" to backstop the
market crisis. He says officials also should use the authority
granted in a housing bill to purchase up to a trillion dollars in
mortgages.
McCain decried the defeat of the financial bailout measure in
the House, and he warned that the nation's political leaders will
have to take risks even though solutions to the crisis may be
unpopular.
      
(Copyright 2008 by The Associated Press.  All Rights Reserved.)
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