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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 [...] 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 [...] Buffett Right, U.S. Bank Plan May Cost Nothing Sept. 25 (Bloomberg) — President George W. Bush, billionaire Warren Buffett and BlackRock Inc.’s Laurence Fink are “absolutely” right to say a $700 billion U.S. plan to buy assets from financial firms may cost taxpayers nothing even with purchases at above-market prices, a top-rated analyst said. [...] From the New York Times: Bailout Plan Stalls After Day of Talks; Paulson Heads Back to Capitol Hill – NYTimes.com WASHINGTON — The status of a rescue plan for the nation’s financial system was in doubt on Thursday, at least for the moment, as lawmakers emerged from a meeting with President Bush to say that [...] 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 [...] 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 [...] 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 [...] 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 [...] |
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