Agreement on Principles

Text of Lawmakers’ Agreement on Principles Congressional Republicans and Democrats came to an agreement on principles for the Treasury’s Troubled Asset Relief Program that they will take into final negotiations with the White House. It includes sections on taxpayer protections, oversight and transparency, homeownership preservation and funding authority. Agreement on Principles Taxpayer Protection Requires Treasury […]

Congress has a plan

Congress has a plan Lawmakers agree on bailout principles to protect taxpayers and ensure oversight. NEW YORK (CNNMoney.com) — Lawmakers have reached agreement on a bipartisan counterproposal to the Bush administration’s $700 billion financial bailout plan. Both parties and both houses agreed Thursday to a set of principles on revisions to the rescue plan, which […]

Which world are we in?

Richard Baldwin, Professor of International Economics at the University of Geneva, in Switzerland, has the following to say at Economist.com: Crisis roundtable: Which world are we in? | Free exchange | Economist.com It seems that banks and bank-like financial firms have two fundamental problems: 1) An investment problem. They have investments that cannot be traded […]

Bush’s speech

I need a transcript!!! I did agree with this statement: “I understand the frustration of responsible Americans who pay their mortgage on time, file their tax returns every April 15th and are reluctant to pay the excess costs on Wall Street,” he said. But, he added, “given the situation we’re facing, not passing a bill […]

Bush to address nation to push bailout – CNN.com

Bush to address nation to push bailout – CNN.com NEW YORK (CNN) — President Bush will deliver a prime-time televised speech Wednesday night to pressure Congress to pass a $700 billion plan to bail out Wall Street, the White House announced. Bush’s speech is set to begin at 9:01 p.m. ET and will take just […]