Congress Reaches Tenative Bailout Agreement, Just After Midnight

Congress Reaches Tenative Bailout Agreement, Just After Midnight

biz.yahoo.com

House Speaker Nancy Pelosi announced the $700 billion accord just after midnight but said it still has to be put on paper.

"We've still got more to do to finalize it, but I think we're there," said Treasury Secretary Henry Paulson, who also participated in the negotiations in the Capitol....

The plan calls for the Treasury Department to buy deeply distressed mortgage-backed securities and other bad debts held by banks and other investors. The money should help troubled lenders make new loans and keep credit lines open. The government would later try to sell the discounted loan packages at the best possible price.

(visit the link for the full news article)

I'm quite angry. I was hoping that someone on the hill would have the brass ones to kill this thing dead in the water. I shouldn't have gotten my hopes up!

Look upon this and weep, America, then light your torches... this is how much your government cares for you!

I'm so utterly disgusted that this thing is going through. The only time the Feds aknowledge what an economic morass we've gotten into is to scare us into bailing out the people who caused it.

biz.yahoo.com
(visit the link for the full news article)

Nancy Pelosi and Congress as a whole, work for the NWO and Bush. Bush will get what he wants for his rich friends, we will still pay for it all, and they may sugarcoat it, but its still the same old HEIST.

As much as people told congress to not support this bill, to not endorse any plan to bail out those on wall street, they went ahead and did it anyway.

We need to give congress a wake up reminder who they work for. Each member that chose to agree to bail out wall street against the will of their constituents needs to be ousted from their seat in Washington.

It just goes to show that even if people do what they have a right to do and contact their representatives, those in our government will not represent us and will do what is in the best interests of those with money.

Why should I pay taxes this year? I don't have any representation obviously. I hope that the American people protest this decision and justly punish those that went against the American people by not re electing them.