Congressman Gregory Meeks Supoprts Treasury Department Efforts to Increase Participation in Public-Private Investment Program

Congressman Gregory Meeks Supports Treasury Department Efforts To Increase Participation In Public-Private Investment Program

Congresswoman Gregory W. Meeks (NY-6) supports the announcement from the U.S. Treasury Department providing additional guidance for potential applicants interested in participating in the Legacy Securities part of the Public-Private Investment Program (PPIP).

"I support today's announcement by the Treasury Department. Secretary Geithner and the Administration have begun to take efforts to ensure that small, minority and women-owned business enterprises (MWBEs) have a meaningful opportunity to participate in the Public-Private Investment Program," said Congressman Meeks.

"My colleagues on the House Committee on Financial Services and in the Congressional Black Caucus have worked since last fall with two Presidential Administrations to address the lack of opportunities for qualified, proven small, minority and women-owned business enterprises to serve our nation by participating in the Troubled Asset Relief Program (TARP), the Term Asset Backed Securities Lending Facility (TALF), the Public-Private Investment Program (PPIP) and other federal programs designed to strengthen the nation's financial and capital markets, are inclusive of all Americans," added Representative Meeks.

"I will remain vigilant in my oversight of the respective federal initiatives to help strengthen our financial sector and the participation of small, minority and women-owned business enterprises in these programs. I will also be working to facilitate partnerships with institutions receiving capital infusions from the government with small, minority and women-owned business enterprises," said Representative Meeks. "I look forward to working with Secretary Geithner, the Administration and private sector institutions who receive capital funds from the federal government to further revise the guidelines in manner that expands opportunities for small, minority and women-owned businesses," said Congressman Meeks.

Source