September 18, 2008 / 7:26 PM / in 9 years

Paulson raised RTC-style concept with Congress: source

WASHINGTON (Reuters) - Treasury Secretary Henry Paulson has been shopping around a proposal to congressional lawmakers that would create an entity to deal with the bad debt, similar to what was done in the savings and loan crisis, a congressional aide said on Thursday.

Treasury Secretary Henry Paulson speaks to reporters in the briefing room of the White House following his meeting about the economy with President Bush Washington September 15, 2008. REUTERS/Jim Young

“It’s a modernized version of the Resolution Trust Corporation, which was used after the S&L crisis,” said the aide, declining to be further identified.

Reporting by Jeremy Pelofsky, editing by Jeffrey Benkoe

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