Finalized Congressional Bailout Bill

From a CNN breaking news report about the finalized bailout bill...

Among the provisions:

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. Among them, companies that participate will not be allowed to offer golden parachutes to executives; they will not be able to deduct the salary they pay to executives above $500,000.

An oversight board will be created. The board will include the Federal Reserve chairman, the Securities and Exchange Commission chairman, the Federal Home Finance Agency director and the Housing and Urban Development secretary.

Allow for the Treasury to receive the option to take ownership stakes in participating companies under certain circumstances.

Originally posted by MOFreemason


An oversight board will be created. The board will include the Federal Reserve chairman, the Securities and Exchange Commission chairman, the Federal Home Finance Agency director and the Housing and Urban Development secretary.

Can somebody please dig deeper into the legislation and find out if this oversight board takes away the sole power that was originally intended for the Secretary of Treasury?

Here is a copy of the bill:
money.cnn.com...

MOFreemason - That page is blank for me...

Can everyone else see something?

Emergency Economic Stabilization Act of 2008

If that link doesn't work...I was able to read through a draft at: money.cnn.com...

They should all be hung, drawn, and quartered. All of the politicians who for a SECOND supported this crap, and all of the businessmen who will benefit. It's time to get angry.

Simple as that. There is no sympathy for the weak at the top. No sympathy should be given by us at the bottom. Well, neither empathy nor sympathy seems to be going on with the masses. Apathy rules the day.

So... what? I dunno. Just sit there and let them rape you, I guess.

Originally posted by dunwichwitch
So... what? I dunno. Just sit there and let them rape you, I guess.

That's just the problem, the majority of Americans so entrenched with watching their "reality tv," sports, and spoon-fed cable "news" that they can't even see the realities of what is really going on around them.

I was hoping as gas prices rose and the majority of suburbanites couldn't afford to fill-up their soccer-mom SUVs, that maybe they'd open their eyes a bit to see what is going on.

Nope.

The American people just sit back and let things happen. Gotta love self-centered Americans.

Being discussed here:

www.abovetopsecret.com...

GUESS WHAT !

Any bailout bill that might get passed will not change a thing in the long run

As you should know, there have already been bigger and bigger bailouts all year, and things continue to get worse & worse


NOW, I Just Figured This !

When, not if, But WHEN this fails it will be blamed on Congress

I now figure that is the Very Reason the Treasury & "Federal Reserve Bank" first gave Congress such a Ridiculous plan, they KNEW it was too Ridiculous for Congress to pass as it was, they KNEW Congress would change it


WHEN this fails, The script line will be... "It failed because Congress changed it."

reply to post by MOFreemason


Absolutely not, all it is doing is placing the foxes to guard the hen house. And all the bill is doing is allowing Paulsen to pick up ALL the bad sub-prime loan paper in the entire WORLD. Yes!! The entire world. Read Sec. 112 of the Bill.