WASHINGTON–Treasury Secretary Henry Paulson twice referencedsupport for an optional federal charter for insurance companiesduring testimony yesterday on his financial bailout plan for thenation.
During a lengthy questioning period during his testimony beforethe Senate Banking Committee, Secretary Paulson said he supportedcreation of an optional federal charter.
His comment was made in response to a question by Sen. TimJohnson, D-S.D., of his views on the OFC in light of the governmentneed to loan up to $85 billion to American International Group lastweek.
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