WASHINGTON, March 31 (UPI) -- Democratic presidential hopeful Hillary Clinton said Monday the White House should address the United States' financial woes, not focus on regulatory overhaul.
The Bush administration should "move beyond" the long-term recommendations in its blueprint for financial regulation and instead focus on "proactive, pragmatic actions" aimed at shoring up the housing and credit markets, the New York senator said.
Clinton's campaign Web site said although Clinton agrees with some of the recommendations Treasury Secretary Henry Paulson unveiled Monday, she believes they fall short.
"While Senator Clinton appreciates the administration's willingness to endorse the idea of a market stability regulator, they are trying to solve an immediate crisis with a long-term proposal," the site said.
Her plan to address the housing and credit crises calls for, among other things, establishing a minimum standard for mortgage originators, implementing an immediate 30 percent interest cap on all credit cards and expanding the federal government's capacity to guarantee restructured mortgages.
