Southwest Missouri Congressman Roy Blunt (R-MO) says he’s a bit disappointed with Treasury Secretary Henry Paulson’s decision to change how he will use the $700-billion Congress has given him to loosen up the country’s credit market.
Paulson has decided against buying up the so-called “toxic” assets to clear the books of lenders and get credit flowing again. Instead, Paulson will offer aid to banks and other firms the make student, care and credit loans.
Blunt says the Treasury Secretary has decided his action is in the best interest of the nation’s economy in the long term. Blunt adds he believes the original plan offered the best chance to give the economy an immediate jolt.