Treasury's Legislative Proposal From Treasury Department for Authority to Buy Mortgage-Related Assets
Title I - Authorizing the Treasury Department to Buy Mortgage-Related Assets
Sec. 4. Reports to Congress.
Within three months of the first exercise of the authority granted in section 2(a), and semiannually thereafter, the Secretary shall report to the Committees on the Budget, Financial Services, and Ways and Means of the House of Representatives and the Committees on the Budget, Finance, and Banking, Housing, and Urban Affairs of the Senate with respect to the authorities exercised under this Act and the considerations required by section 3.
General Comments on Treasury's Legislative Proposal From Treasury Department for Authority to Buy Mortgage-Related Assets
All reports should be monthly if not weekly. All studies should be completed within 30 days - months are not acceptable.
All reports, and all sections of reports, must be public and available online at the time of their presentation to Congressional committees.
The Secretary shall post a full accounting of all financial instruments acquired, the last known fair market price, and the price payed by the American taxpayer for said assets every week. These disclosures will be posted on a website for full public access.