Another arrogant Kool-Aid drinker who thinks everyone who doesn't buy into the Bush/Paulson/Barney Frank scare tactics is ignorant.
Have another giant swig.
ht
Posted on 09/27/2008 9:52:51 PM PDT by BAW
House and Senate negotiators have reached tentative agreement on a financial rescue plan after a marathon Capitol negotiating session that started Saturday afternoon and stretched into early Sunday morning.
House Speaker Nancy Pelosi (D-Calif.) and Sen. Majority Leader Harry Reid (D-Nev.) said the deal still had to be “committed to paper,” a process that will continue throughout the night.
Republican Whip Roy Blunt (R-Mo.), the chief Republican negotiator, said he was “looking forward to what we’re going to see on paper” but said he was optimistic that it would be something House Republicans could support.
Said Treasury Secretary Henry Paulson: “We’ve been working very hard on this and we’ve made great progress toward a deal which will work and will be effective in the marketplace and effective for all Americans . . . .We’ve still got a lot to do to finalize it, but I think we’re there.”
The plan is likely to give Paulson a relatively free hand accessing the first $350 billion of the $700 billion he sought. It was not clear when the remaining $350 billion would become available, but Treasury apparently agreed that a future Congress could block its release though a joint resolution signed by the president.
The deal also includes much greater oversight than the Bush administration had initially proposed; an opportunity for the government to take an equity share in the companies it helps, either through warrants or options to buy stock; and a provision limiting the compensation paid to executives of those companies.
To help win the support of House Republicans, the deal also likely includes an option under which Paulson and future Treasury secretaries could choose to sell companies government-backed insurance to cover securities – thereby improving their value – rather than buy the assets as initially proposed.
(Excerpt) Read more at politico.com ...
McCain screwed up last night when he did not come out against any plan with giveaway provisions and against any ACORN/LaRaza handouts.
He could have locked up the election but he used the moment to play up what a great friend of the democrats he was and to praise compromise.
McCain takes pride in being well thought of by democrats.
Democrats take great pride in getting their way.
If he votes for this thing he will be back where he was before he grabbed on to Sarah to bring conservatives out.
I don’t know what the deal is, but this article is worth reading in full. It looks like McCain joined forces with Boehner and the House GOP to try to get a better deal than the Democratic monstrosity that was being peddled on Thursday.
"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
I hope the Republicans put their foot down on this.
"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
A meltdown will happen regardless of this...
You rather pay 350B just cause...
A) A meltdown is not a certainty. Heck, even if something is done, we could still have a meltdown.
B) If my choice, however, is a meltdown or socialism, I'll take the meltdown. The US would survive that. It won't survive socialism.
"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
Hope the squirrels gathered and buried the acorns.
Per NRO The Corner, the deal does NOT include ACORN.
http://corner.nationalreview.com/post/?q=YzNkYTY1YWI3N2MyMzMxODQzYWVmODI2YTQyYjZkYzI=
He better, dammit. He has taken huge political risks this week and it isn't yet clear that this will all eventually work out in his favor. But if it's a clean bill with no ACORN or other crap and is otherwise acceptable to the House GOP, it's a big win for him. Or at least it should be.
Another arrogant Kool-Aid drinker who thinks everyone who doesn't buy into the Bush/Paulson/Barney Frank scare tactics is ignorant.
Have another giant swig.
ht
I’m just linking to what The Corner says. I’m not saying it’s true because I don’t know.
According to the article, it would appear the House Republicans won't sign on if Acorn slush fund is still there.
"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
"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
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