Lawmakers: Financial bailout agreement reached

Lawmakers: Financial bailout agreement reached
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WASHINGTON - Warned that time was running short to bolster the distressed economy, congressional Republicans and Democrats reported agreement in principle Thursday on a $700 billion bailout of the financial industry, and said they would present it to the Bush administration in hopes of a vote within days.

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[edit on 25-9-2008 by SEEWHATUDO]

Is the bill the one that gives the secretary of treasury unlimited power or a new diffrent bill? (sorry if my spelling is wrong.)

Hmmmmm ...

Under the plan, the Treasury secretary would get $250 billion immediately and could have an additional $100 billion if he certified it was needed. The last $350 billion could be blocked by a vote of Congress under the arrangement,

250+100+350=700billion.

So the last $350B could be blocked by CONgress?

Is it still a revolving account? There's one big question!

including agreeing to limit pay for executives of bailed-out financial institutions

Limiting? LIMITING the pay? What kind of limits? 10% 50% Paulson's discretion?

give taxpayers an equity stake in rescued companies.

At Mark To Market Value? Or some other lower form of valuation?

on MSNBC, at 5pm eastern... Shelby came out of meeting with Bush, he stated Obama & McCain he seen there in the WH,
but Shelby says that he's pretty sure there is no agreement Yet!

reply to post by SEEWHATUDO


Well.. if 700 billion stopped a collapse.. 250 might.. impede it? slow it down a tid bit.. an extra 100 billion will be absorbed like it wasn't there, and the final check will be debated before being passed.. soo .. technically we could still crash. Just.. not until after the election.

Well, there seems to be some kind of disagreement on Capitol Hill, as of lately. I think the bankers called in with a word for the taxpayers: Gimme you cash and stay away form my office. This is my bank and you got no business snooping around. That's like communism, right? You don't like the commies, Jimmy, or do you? You don't. So when you knock on my office door, have some bailout cash ready for me. Otherwise don't knock. Is that understood?