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SALT LAKE CITY (AP) -- Utah Sen. Bob Bennett has sent a letter to financial banking regulators encouraging their agencies to remove obstacles that could prevent willing private sources of capital from investing in the banking system.
Bennett says sources of capital such as private equity investors could reduce the need for future bank bailout funds, protect taxpayer investments and help the financial system recover.
Bennett sent his letter Thursday.
The Republican says he would oppose using additional bank bailout funds when there is private capital that could be used to help stabilize the financial markets and provide money for new lending.
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(Copyright 2009 by The Associated Press. All Rights Reserved.)
