Thursday, November 20, 2008
Treasury urged to turn to insurers to help deal with illiquid assets
This article appears courtesy of Reactions. Testifying before the House Committee on Financial Services in Washington, DC, Cameron Findlay, executive vice-president and general counsel of broker Aon, said he believed that the creation of an insurance pool would help financial institutions deal with illiquid assets. Findlay is keen to see the Treasury make greater use of section 102 of the Emergency Economic Stabilization Act – which refers to the insurance of troubled assets under the act – and establish a programme to insure the value of troubled assets. The crux of Findlay's...
