Both parties and both houses agreed Thursday to a set of principles on revisions to the rescue plan, which calls for the Treasury Department to buy up bad mortgage securities from banks in an effort to get them to lend again.
The proposal will help homeowners, curb executive pay packages at participating firms and provide oversight of Treasury's actions, said Sen. Christopher Dodd, D-Conn., a key architect of the congressional effort. He did not provide details but said lawmakers will sit down with Treasury officials to discuss it.
CNN also noted that the stock market was up over 300 points on news that a bailout may be forthcoming.
Pop the corks, and bring in the hookers and coke. There is only one way to go from here, and that is straight up.
PS - does that mean McCain will now go to the debate?
Sign the petition
PPS - They were just kidding earlier:
WASHINGTON (AP) -- Urgent efforts to lash together a $700 billion rescue plan for the national economy appeared to be stalling Thursday night, hours after key lawmakers had declared they had reached a deal.
It appears all hell is breaking loose with the politicians tonight. Send away the hookers and coke - we aren't there yet.
_______________
3 comments:
I think the postpone the debate stunt will end any hope of McCain having a shot at winning the election.
I am not sure who is to blame - Dems or Republicans. This is a huge mess with the American people not wanting to pay for a bailout and Government trying to push one through. We will never know the real story of what the hell is going on.
Good to have you back blogging!
Post a Comment