"Financial Peace in our time!"
Posted on 09/24/2008 9:55:45 PM PDT by Libloather
UPDATE 2-US Democrats claim Wall St. bailout breakthrough
Wed Sep 24, 2008 10:50pm EDT
By Richard Cowan and Thomas Ferraro
WASHINGTON, Sept 24 (Reuters) - Democratic Rep. Barney Frank said on Wednesday Democrats had reached an agreement to stem one of the worst U.S. financial disasters in decades, and that there would be enough votes to pass the measure and send it to President George W. Bush to sign into law.
"We now have between House and Senate Democrats an agreement on what we think should be in the bill, and we have a meeting scheduled at 10 a.m. tomorrow to meet with the Republicans," said Frank, chairman of the House of Representatives Financial Services Committee.
Proponents of a rescue plan have expressed hope that a bill could be delivered to Bush within days.
While the Bush administration had asked Congress for $700 billion for an unprecedented Wall Street bailout, Frank said that amount might not be delivered all at once.
**SNIP**
Frank said there would be tough congressional oversight of as well as limits on compensation packages for executives of companies that receive federal relief.
The Massachusetts senator said a limited number of details still had to be resolved, but thought it could be done quickly. These matters involved bankruptcy protections for families on the verge of losing their homes and giving the government a return on its money if the company being helped prospers. Continued...
(Excerpt) Read more at reuters.com ...
Something that will keep him out of prison?
Tough Congressional oversight? Like overseeing the CRA and making banks and Fannie/Freddie keep originating and purchasing subprime loans in the inner city? THAT tough oversight?
Two words that induce nausea: “congressional oversight”. Translates, “posturing banty roosters.”
Of course, oversight by the executive branch doesn’t exactly inspire confidence either.
I say hang’em all. Bunch of thieves.
"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
If it’s Barney’s “breakthrough”, then, NO!!!!!! The ‘RATS got us into this whole with their “breakthroughs.”
wow, it’s amazing how much productivity people can pull out of their butts, after sitting around for a week and whining, once you give them a prod with a red hot poker.
Of course Al Reuters will claim a dem victory. so will all the msm. it was obambi’s bill right? yeah...ask my staff and call me if you need me....
remember too, they now have a deadline.....
Oh well, if Barney said it’s all good then we can sleep well tonight...
Congress has no business overseeing the banking industry. Especially THIS Congress.
"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
"Financial Peace in our time!"
The Dems can’t allow Bush the opportunity to act presidential. If his ratings improve, it can only hurt Dems, no bones about it.
If Barney can fix a parking ticket for his male prostitute boyfriend, he can fix anything.
“(approved by Barney Frank)”
I wonder how many games of swallow the leader that took?
"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
Yet there was hardly anyone batting an eye, even on Free Republic.
Something tells me this current bill is not going to bankrupt us.
The American Spectator on Monday quoted Harry Reid aides as gleefully noting that the Dems wanted to either Kill or stall to help create a large crisis which would get Obama elected. Reid went out and mocked McCain.
McCain called there Bluff and blew up the Dem’s market going nuclear option now they are scrambling to prevent Mcain for getting credit for a solution !
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