I noted in my opening comments that housing and autos have historically led us out of recessions in many ways.
I wish we had done that a year ago. It might have made the situation less dramatic than it is today, but I welcome that move, as well.
AAA-rated bonds out of municipalities for schools and hospitals has got to be at least as creditworthy as a student loan.
I think part of this is that, remember, we do have a legal procedure.
The announcement of the stress itself has, I think, created stress in a sense in terms of how the private sector looks at the institutions.
I believe the authority exists under the Congress for you to be able to do that under TALF with municipal issues.
It would seem to me you have all the authority in the world.
We need to be careful to make sure we are not going to contribute to the very outcome we are trying to avoid.
Thank you very much, Senator.
The public-private partnership idea is one that I think has some value.
I don't welcome that at all, but I can see how it's possible that may happen. I think that's unfortunate, but it may come to that. I'm conce...