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Isakson, Chambliss Urge Treasury to Address Needs of Community Banks
October 30, 2008
WASHINGTON – U.S. Senators Johnny Isakson, R-Ga., and Saxby Chambliss, R-Ga., today sent a letter to Treasury Secretary Henry Paulson urging him to give community banks access to the Troubled Asset Relief Program authorized by the Emergency Economic Stabilization Act.
It is the second letter Isakson and Chambliss have written asking Paulson to address the needs of community banks in Georgia and across the country.
The text of the letter is below:
Dear Secretary Paulson:
Recently, we have learned of Treasury’s efforts to expand the government's financial rescue plan to include non-publicly-traded banks. We are again writing to urge you to give close review and a favorable decision that permits both publicly-traded and privately held community banks access to the Troubled Asset Relief Program authorized by the Emergency Economic Stabilization Act.
In our enclosed letter of October 21, 2008, we stress the vital role these banks play in our communities for both small businesses and individuals. We hope that these concerns will be at the forefront of your deliberations on the matter.
Sincerely,
Saxby Chambliss Johnny Isakson
United States Senator United States Senator
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