Frank Statement on President-Elect Obama’s Economic Team

Washington, DC - House Financial Services Committee Chairman Barney Frank (D-MA) today released the following statement regarding the announcement of President-elect Obama’s economic team:

            “I am pleased that President-elect Obama has made the appointment of an economic team as one of his first moves.  This sets the stage for badly overdue decisive action to provide the economic help the Bush Administration has refused to support.  I look forward to working with Secretary-designate Timothy Geithner, Economic Advisor Larry Summers and others to push for prompt and decisive action to reduce mortgage foreclosures, to press banks which have received TARP funds into responding much more than they have by relending these funds, and to prepare an substantial economic recovery package that can be adopted shortly after the inauguration.”