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Congress expected to pass rescue package
AP on Yahoo ^ | 9/28/08 | Julie Hirschfeld Davis - ap

Posted on 09/28/2008 1:43:14 PM PDT by NormsRevenge

WASHINGTON - Congressional leaders and the White House agreed Sunday to a $700 billion rescue of the ailing financial industry after lawmakers insisted on sharing spending controls with the Bush administration. The biggest U.S. bailout in history won the tentative support of both presidential candidates and goes to the House for a vote Monday.

The plan, bollixed up for days by election-year politics, would give the administration broad power to use taxpayers' money to purchase billions upon billions of home mortgage-related assets held by cash-starved financial firms.

(Excerpt) Read more at news.yahoo.com ...


TOPICS: Business/Economy; Front Page News; Government; Politics/Elections
KEYWORDS: 110th; congress; expected; rescue

1 posted on 09/28/2008 1:43:14 PM PDT by NormsRevenge
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To: NormsRevenge
Bailout Bill's 5 Biggest Problems:

ACORN MONEY STILL IN THERE

TAXPAYERS BAILING OUT FOREIGN BANKS

NO VOTE NEEDED TO GO TO 700 BILLION

HOUSE CAN ONLY VOTE ON SENATE VERSION-NO AMENDMENTS

RENEGOTIATING MORTGAGE RATES WILL SCREW THE GOOD GUYS WHO PAY THEIR BILLS

2 posted on 09/28/2008 1:44:25 PM PDT by icwhatudo (PALIN VID=========>>>>>http://www.overstream.net/view.php?oid=n1ronxelmtin<++++++++)
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To: NormsRevenge

Believe I just heard on FOX that McCain says pass it!


3 posted on 09/28/2008 1:45:00 PM PDT by Grams A
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To: Grams A

Rescue... or ... Bailout? Funny how phraseolgy changes.


4 posted on 09/28/2008 1:46:08 PM PDT by BookaT (My cat's breath smells like cat food!)
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To: Grams A

I swear it seems like McCain is trying to throw this election.


5 posted on 09/28/2008 1:47:29 PM PDT by Conservative Actuary
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To: NormsRevenge

The 20% allocation for ACORN is still there and on pages 21 and 22 of the bill!


6 posted on 09/28/2008 1:48:03 PM PDT by Candor7 (Fascism? All it takes is for good men to say nothing, (http://www.theobamafile.com/))
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To: Candor7
The 20% allocation for ACORN is still there and on pages 21 and 22 of the bill!

So? If it's ok to give it away to Wall Street, then it's ok to give it away to anybody. That's what happens when you abandon a principle.

7 posted on 09/28/2008 1:51:35 PM PDT by Wolfie
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To: Grams A

He thought the dems would let him “reach across the isle” but they slapped his hand.


8 posted on 09/28/2008 1:53:35 PM PDT by Terry Mross
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To: Grams A

That’s right because if it doesn’t McCain can kiss the Presidency behind.


9 posted on 09/28/2008 1:54:56 PM PDT by marajade (Yes, I'm a SW freak!)
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Lest folk forget how we got here..

an ACORN, another nut and a fruitcake..

America, smell the coffee.

10 posted on 09/28/2008 1:55:00 PM PDT by NormsRevenge (Semper Fi ... Godspeed ... Capitol Switchboard: (202) 224-3121)
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To: NormsRevenge

No BAILOUT!


11 posted on 09/28/2008 2:03:12 PM PDT by VRWC For Truth (Palin is sugar dog doo ... No mas Juan "Traitor Rat" McAmnesty)
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To: VRWC For Truth

Grrr fixing tag ...


12 posted on 09/28/2008 2:04:13 PM PDT by VRWC For Truth (Palin is sugar on dog doo ... No mas Juan "Traitor Rat" McAmnesty)
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