Posted on 09/24/2008 3:25:19 PM PDT by koraz
WASHINGTON — The Bush administration will include mortgage aid for homeowners and strong congressional oversight in its $700 billion financial bailout plan, the head of the House Financial Services Committee said Monday.
Rep. Barney Frank, D-Mass., said great progress has been made in talks between lawmakers and President Bush's team on the rescue. Leading the negotiations for the administration is Treasury Secretary Hank Paulson.
A government official with knowledge of the talks said the administration has agreed to create a plan to help prevent foreclosures on mortgages it acquires as part of the bailout.
That had been a big demand for many Democrats, who said they could not support the bill without more help for homeowners risking foreclosure.
Sen. Bill Nelson said he would refuse to vote for a bailout for banks "that caused the problem in the first place and (would) leave the homeowner with the short end of the stick."
"Also, we need more transparency and accountability from Wall Street; and, we need to rein in excessive executive pay that isn’t based on performance," Nelson, D-Fla., said.
(Excerpt) Read more at foxnews.com ...
No, do not run TOWARDS the DemonRATs.
RUN AWAY!!!!
Quit ye like men and devise a BETTER plan!!
Thats how we got here.
And there it is...and it was Bush that came right out and said it instead of using the Dem catch phrase of "helping main street".
Problem is,Paulson IS a democrat working on the stupid mess that he as a former CEO of that SCUM company, Goldman Sachs (sorry, personal hatred for a company that bought out my old firm)...
Bush and Paulson along with the other socialists in congress are hell bent on making this country socialist.
We have just lost our freedom.
Welcome to the United Socialist States of America.
The election is not needed, it doesn’t which socialist we elect.
Re-read the Bill of Rights we just may need it soon.
Bawney Fwank is the CAUSE of all this mess (read awww.ancouter.com today for the facts) and to GIVE HIM 'CONGRESSIONAL OVERSITE' is lunacy
I hope McCain blows into town and blows this mess wide open
Republicans have become second-rate Democrats. Who wants second best? Even when Republicans win we move leftward.
I disagree.
Mainstream America does not like things rammed down their throats (amnesty), and doesn’t like the used-car-salesmanesque manner in which this thing is being hawked. Also, the man in the street wants the guilty parties to pay... be they republican, democrat, or CEO.
The democrats gave themselves more thunder by wanting to limit bonuses, etc. The ‘pubs, particularly Bush, make themselves out to be in bed with the elites by trying to rush this bailout through. Big mistake, particularly with republicans who see it as socialism... which it is.
"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelologus
Sageso the dopes who bought homes and signed on to mortgages they could never afford will get a bailed out by the government. The true middle-class, those doing things the right way and paying off mortgages will eat the bill.
Actually the phrase you refer to was first posted on CPUSA’s website the other day.
We just lost our freedom, the homes will be given to the people who shouldn’t have purchased them in the first place and the crooked lenders will get their money from the blood of working Americans
You 100% right. But the problem is the Dems are holding our 401K hostage.
Another downside is that McCain gets there just as they sign a deal.
Bend over everybody, a lot of Democratic Party constituents are about to be getting free or markedly-reduced housing out of this whole deal. It’s their equity reward for being irresponsible citizens. The largest redistribution of wealth in American history is about to take place.
I am not willing to support a kitchen sink bill that bails out everyone for every reason under sun. It's not even feasible, it cannot be done in any way that will even be close to fair, and it is just gongododan socialism. Larding this program with student debt and giving judges plenary power to arbitrarily come up with new terms for contracts is far beyond the pale.
RTC 2.0, a very reluctant yes. Marx, no.
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