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Without a Bailout Plan, What Will the Cost Be? – TIME By voting down the proposed $700 billion financial bailout package — and causing a spectacular stock market rout — a majority of members in the House of Representatives made a clear statement that they didn’t want to put taxpayers on the hook for the [...] As I’m sure you’re all aware, the House of Representatives voted down the Emergency Economic Stabilization Act of 2008 (H.R. 3997) today. People have no idea how screwed we are if the EESA 2008 doesn’t get passed. “Bailout” was the worst marketing technique anyone could have chosen. The plan is not a taxpayer bailout of [...] This nation’s economy is fucked … Republicans created this mess, Republicans came up with a solution to this mess, and yet Republicans are refusing to fix this mess, even though almost every thing the members of the House that revolted asked for was included in the bill being presented and voted. What are they thinking? [...] 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. [...] 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 [...] |
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