Posted on 09/28/2008 3:20:58 PM PDT by Dawnsblood
The House website is down. I’ve uploaded the most recent bailout draft bill right here.
Pg. 33 still has the bailout for foreign banks. FYI
Man, how are we going to figure out what’s right and what’s wrong in that mess?
I can’t get past the first paragraph which provides the Federal Goverment authority also for other purposes.
What does this mean?
Pg. 43 line #18 - It’s a ram thought ammendment.
Does this mean I can ask for a billion bucks to bail out my debts too? Who decides on who gets what in this?
Looks like they cut ACORN, unless I’m just not seeing it.
435 Reps and 100 Sens are going to read this, understand it and then vote on it by tomorrow?
I suspect it means that Sec Paulson has the authority to spend $350 - $700 billion in just about anyway he sees fit to stabilize Wall Street. I am no economic scholar but this is a scary amount of power to invest in one fallible man.
What, you mean the legion of armchair commentators here might not be able to make sense of the bill? You jest!
More accurately, their staff will read the bill and write up a short summary (a couple of pages) which they will present to their overlord Congressthing, who will then be given an even shorter verbal summary while ignoring the written summary.
For other purposes is included in the title to cover everything added by an amendment to the original bill!
Think Pork!
Scary isn't it!
They sure are! Don't ya feel better now?
The Democrats would be "organizing communities" for direct action in the streets with militant marches to intimidate CONgress on this issue if they disliked it as much as conservatives do!!! The MSM would be their amplifier!!!
Now they're gonna cause the gasoline prices to go so high we can't afford the trip to the demonstration starting point even if we chose to demonstrate against this slip-shod deal!!!
DEAL OR NO DEAL???
(b) TABLE OF CONTENTS.—The table of contents for 2 this Act is as follows:
Sec. 1. Short title and table of contents.
Sec. 2. Purposes.
Sec. 3. Definitions. TITLE I—TROUBLED ASSETS RELIEF PROGRAM
Sec. 101. Purchases of troubled assets.
Sec. 102. Insurance of troubled assets.
Sec. 103. Considerations.
Sec. 104. Financial Stability Oversight Board.
Sec. 105. Reports.
Sec. 106. Rights; management; sale of troubled assets; revenues and sale proceeds.
Sec. 107. Contracting procedures.
Sec. 108. Conflicts of interest.
Sec. 109. Foreclosure mitigation efforts.
Sec. 110. Assistance to homeowners.
Sec. 111. Executive compensation and corporate governance.
Sec. 112. Coordination with foreign authorities and central banks.
Sec. 113. Minimization of long-term costs and maximization of benefits for taxpayers.
Sec. 114. Market transparency.
Sec. 115. Graduated authorization to purchase.
Sec. 116. Oversight and audits.
Sec. 117. Study and report on margin authority.
Sec. 118. Funding.
Sec. 119. Judicial review and related matters.
Sec. 120. Termination of authority.
Sec. 121. Special Inspector General for the Troubled Asset Relief Program.
Sec. 122. Increase in statutory limit on the public debt.
Sec. 123. Credit reform.
Sec. 124. HOPE for Homeowners amendments.
Sec. 125. Congressional Oversight Panel.
Sec. 126. FDIC authority.
Sec. 127. Cooperation with the FBI.
Sec. 128. Acceleration of effective date.
Sec. 129. Disclosures on exercise of loan authority.
Sec. 130. Technical corrections.
Sec. 131. Exchange Stabilization Fund reimbursement.
Sec. 132. Authority to suspend mark-to-market accounting.
Sec. 133. Study on mark-to-market accounting.
Sec. 134. Recoupment.
Sec. 135. Preservation of authority. TITLE II—BUDGET-RELATED PROVISIONS
Sec. 201. Information for congressional support agencies.
Sec. 202. Reports by the Office of Management and Budget and the Congressional Budget Office.
Sec. 203. Analysis in President’s Budget.
Sec. 204. Emergency treatment.
Sec. 301. Gain or loss from sale or exchange of certain preferred stock.
Sec. 302. Special rules for tax treatment of executive compensation of employers participating in the troubled assets relief program.
Sec. 303. Extension of exclusion of income from discharge of qualified principal residence indebtedness.
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