Munis: TARP To Be Thrown Over Issuers and Insurers.

    According to a January 9, 2009 Press Release Outline of Legislation to Amend TARP, the Chair of the U.S. House Financial Services Committee Barney Frank (D-Mass.) will offer amendments to TARP, the Troubled Assets Relief Program, to "clarify" the Treasury Department's authority under the Emergency Economic Stablization Act of 2008 "to provide support to issuers of municipal securities for new issuance or remarketing of existing auction rate securities."  [Emphasis added.]

    Whether and how these proposed amendments will work remains to be seen, of course.  Time will tell.

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