WASHINGTON--An Aon Corp. official urged the Treasury Department today to make greater use of the insurance component of the Troubled Asset Relief Program as a means of opening up the currently frozen U.S. credit markets.
"Such an approach would benefit taxpayers, financial institutions saddled with illiquid assets, and homeowners," said D. Cameron Findlay, executive vice president and general counsel of Aon, which is based in Chicago.
Mr. Findlay made his comments in testimony at an oversight hearing on the Emergency Economic Stabilization Act of 2008 held by the House Financial Services Committee. He was testifying on behalf of the Council of Insurance Agents and Brokers.
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