WASHINGTON, Sept 17 There is not enough time
left in the congressional session for U.S. lawmakers to
consider setting up a Resolution Trust Corp-type fund to buy up
toxic mortgage assets, Senate Banking Committee Chairman Chris
Dodd said on Wednesday.
"That's not going to happen now anyway. We're here for
another week. It's a nice debating point," Dodd, a Connecticut
Democrat, told reporters on Capitol Hill.
"The Treasury performs that function right now, they have
the authority to do that," he said, adding that he thought they
should "absolutely" do it.
"The Obama Administration or the McCain administration will
have to assess whether they want to propose such an idea. I'm
willing to entertain one," Dodd said, referring to presidential
candidates Democrat Barack Obama and Republican John McCain.
Dodd also said there were other shoes that could drop
before the current crisis is over.
"Until you address the underlying cause of this problem,
which is the (housing) foreclosure crisis, this problem is not
going to go away," he said.
"And while I don't anticipate anything as large as AIG,
there are regional banks and others that can face a lot of
stress -- there already are. So there are other shoes that can
fall until we get to the bottom of the mortgage crisis," Dodd
U.S. authorities announced late Tuesday an $85 billion
rescue plan for insurer American International Group (AIG.N).
(Reporting by Susan Cornwell; Editing by Tim Dobbyn)