Posted on 09/25/2008 3:26:20 AM PDT by ThePythonicCow
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.
(Excerpt) Read more at reuters.com ...
The outrage of U.S. citizens is immaterial. Too many foreign nations, not entirely friendly to us, hold our debt.
Just as we got in hock by excess dependency on foreign oil, now we see we are in hock by excess dependency on foreign credit.
Breakthrough! No just trying to stop Mcain from getting any credit. What a joke that punk is. A true democrat HERO.
We could only hope. Unfortunately, I don't think McCain has what it takes to get this fiasco on the right track.
If he had any sense, he'd be pushing Newt's plan.
You sound like Ron Paul.
Since China suspended lending to US, I imagine a bill with be forthcoming.
I have to agree with the Dems on the fact that the idea to let the CEOs off with their golden parachutes always was a bad idea. Let them run a company into the ground, get the taxpayers to rescue them, and then still walk off with millions, that’s the one thing about Paulson’s plan I hated.
I too am against the bailout. But this needs to end fast. Or else Obama wins in a landslide.
And Wright, Ayers, et al will be useless come October if the economy is tanking.
I wonder if McCain realized, when he announced his return to Washington, D.C., that it would have the affect of forcing the 'Rats to circle the wagons on an apparent solution quickly.
I think they really wanted the economy to collapse right before the election. Unfortunately, so do many freepers.
The issue of government controls on compensation for executives of corporations that participate in the bailout had ignited a firestorm, with Americans complaining to their representatives in Congress that these corporate chiefs shouldn't be rewarded for failure.
"On the executive compensation thing, it went to the core of their (the Bush administration's) being," said Frank. "It was like asking the chief rabbi of Jerusalem to eat bacon on Yom Kippur. It was the most unthinkable thing they could think of."
Sowwy, Bawney, YOU are the most unthinkable thing I can think of. I would be VERY surprised if the Administration never thought of considering this the mortgage equivalent of the FOMC window of the Fed. That you think you are the only one who can think these things shows your own hubris.
Hope somebody can stop this.All it is is an attempt to prop up housing prices and hold down gold. Houses are going back to correct pricing now but gold is still too low.
why isn’t Ron Paul Republican House leader
I too would go for Paul. He is now proven to be the only candidat telling the truth about this mess. Looks like he was right and the rest are the KOOKS.
don’t worry, if there is no bailout you won’t be able to check the price of anything
The Democrats cannot pass this on their own, although I am convinced something will pass, just haven’t a clue in what form.
If McCain’s return to Washington does, as you say, force the libs to a compromise, then that is something that accrues to Mccain’s benefit.
One mistake people are making and what the president briefly touched on is that the assets the government may buy are not at all worthless anymore then the assets they own from the AIG purchase are worthless. They have value because they are backed up by homes, real property. As bad as it looks today, the real estate market will at some point right itself and those mortgages can be resold if not at a profit at least at a loss not nearly equal to the 700 billion outlay proposed.
let’s see..... i bought a house i could afford, did not take the arm balloon bait, pay my mortgage and bills on time, do not have a massive amount of debt, and have put away money for retirement.....that can only mean that I am screwed once again!!!!
Barney the Puke and the RATS are just playing politics, trying to rob McCain of any glory.
Barney not only says incredibly stupid things - he even appears to be stupid. Walks like a duck, talks like a duck ...
I am not with this bailout plan at all. Let the prices on homes correct. We are too far on credit as it is. More credit will only make it worse later. I do not trust the banks or the pocketicians.
I agree. McCain should not make a big deal of going back to Washington DC like he is Mr. Smith goes to Washington. It’s getting more obvious that he isn’t for America or her people.
Thanks John. You’re a real peach. Thanks, as usual, for all the lies(not straight talk). To tell the truth, I am embarrased by him. Is that what you learned during your lengthy political career? How to talk out of both sides of your mouth? We already know Obama lies. Are you going to do the same? Some love of America you’ve got there.
Will you show America and her people you are really a man of honor or not? Not just empty words.
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