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Text of EESA 2008

Finally, the text of the proposed Emergency Economic Stabilization Act of 2008 (Adobe PDF) has been released.

Summary as follows:

The $700 billion would be disbursed in stages, with $250 billion made available immediately for the Treasury’s use. Curbs will be placed on the compensation of executives at companies that sell mortgage assets to Treasury. [...]

I can see Russia from my house!

Sarah Palin’s Foreign Policy credentials, based on Alaska’s proximity to Russia and Canada:

Watch CBS Videos Online

Yeah, yeah … it’s an old joke at this point. But the interview with Katie Couric is still important. Watch it. Listen to what Sarah Palin says. Do you really want this woman to be a heartbeat away [...]

Summary of the Draft Proposal – WSJ.com

This sounds promising.

Summary of the Draft Proposal To Rescue U.S. Financial Markets – WSJ.com

IMPROVING THE FINANCIAL RESCUE LEGISLATION

Significant bipartisan work has built consensus around dramatic improvements to the original Bush-Paulson plan to stabilize American financial markets — including cutting in half the Administration’s initial request for $700 billion and requiring Congressional review [...]

Finally

Hopefully, when I wake up, there’ll be a published draft that those of us who are interested can read.

Congressional leaders reach tentative deal on bailout – CNN.com

WASHINGTON (AP) — Congressional leaders and the Bush administration have reached a tentative deal on a bailout of imperiled financial markets that could cost taxpayers hundreds of [...]