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Administration accepts lawmakers' demands for mortgage aid, oversight in $700 billion bailout
WASHINGTON (AP) -- A key Democrat negotiating a $700 billion financial bailout says the Bush administration has agreed to include mortgage aid and strong congressional oversight in the plan.
Rep. Barney Frank, the Financial Services Committee chairman, says a great deal of progress has been made in talks between lawmakers and President Bush's team on the rescue.
A government official with knowledge of the talks also said the administration has agreed to create a plan to help prevent foreclosures on mortgages it acquires as part of the bailout.
Originally posted by Solarskye
The government has spent billions on poverty over all these years and poverty still exists. Why would I believe this will fix the mortgage problem? The government is the problem and Fanny Mae & Freddy Mac was and still is part of the government. The only way to fix the economic problems we have is to keep the government out of it. If you fail in a business then you fail, NO BAILOUT!! Where's my help I need bailed out too, but we tax payers have to bail our selfs out and the government. Bunch of political BS if you ask me. Yes it needs to stop now.
Originally posted by nyk537
I wish they would have negotiated Barney Frank and Chris Dodd stepping down as part of this.
They don't need to have anything to do with this anymore.
Originally posted by Ausable_Bill
WASHINGTON (AP) -- A key Democrat negotiating a $700 billion financial bailout says the Bush administration has agreed to include mortgage aid and strong congressional oversight in the plan.
A government official with knowledge of the talks also said the administration has agreed to create a plan to help prevent foreclosures on mortgages it acquires as part of the bailout.
Originally posted by Skydancer
Personally I'd fire all of Congress, it was under their legal jurisdiction that we have a failed economy. You can blame it on the SEC or the FEDERAL RESERVE all you want. But its really based upon the average citizen being too lazy to vote.
Originally posted by Ausable_Bill
Congress, Bush team agree on bailout terms
biz.yahoo.com...
the Bush administration has agreed