Julian Bond: “To handle the workload and complexity of transactions under mark-to-market, a significant amount of flexibility is…”

“To handle the workload and complexity of transactions under mark-to-market, a significant amount of flexibility is provided to the PAE's. However, it is expected that the Secretary establish strict and coherent guidelines to ensure that PAE's do not go beyond their restructuring duties as intended under the bill. To further prevent any abuses, the bill forbids private entities that act as PAE's to share, participate in, or benefit from any equity in the restructuring program. Last, it is expected that those most affected by restructuring, namely residents, communities, and owners, are involved in the process to protect the public interests.”