Pg. 33 still has the bailout for foreign banks. FYI
Man, how are we going to figure out what’s right and what’s wrong in that mess?
I can’t get past the first paragraph which provides the Federal Goverment authority also for other purposes.
What does this mean?
Pg. 43 line #18 - It’s a ram thought ammendment.
Does this mean I can ask for a billion bucks to bail out my debts too? Who decides on who gets what in this?
Looks like they cut ACORN, unless I’m just not seeing it.
435 Reps and 100 Sens are going to read this, understand it and then vote on it by tomorrow?
(b) TABLE OF CONTENTS.—The table of contents for 2 this Act is as follows:
Sec. 1. Short title and table of contents.
Sec. 2. Purposes.
Sec. 3. Definitions. TITLE I—TROUBLED ASSETS RELIEF PROGRAM
Sec. 101. Purchases of troubled assets.
Sec. 102. Insurance of troubled assets.
Sec. 103. Considerations.
Sec. 104. Financial Stability Oversight Board.
Sec. 105. Reports.
Sec. 106. Rights; management; sale of troubled assets; revenues and sale proceeds.
Sec. 107. Contracting procedures.
Sec. 108. Conflicts of interest.
Sec. 109. Foreclosure mitigation efforts.
Sec. 110. Assistance to homeowners.
Sec. 111. Executive compensation and corporate governance.
Sec. 112. Coordination with foreign authorities and central banks.
Sec. 113. Minimization of long-term costs and maximization of benefits for taxpayers.
Sec. 114. Market transparency.
Sec. 115. Graduated authorization to purchase.
Sec. 116. Oversight and audits.
Sec. 117. Study and report on margin authority.
Sec. 118. Funding.
Sec. 119. Judicial review and related matters.
Sec. 120. Termination of authority.
Sec. 121. Special Inspector General for the Troubled Asset Relief Program.
Sec. 122. Increase in statutory limit on the public debt.
Sec. 123. Credit reform.
Sec. 124. HOPE for Homeowners amendments.
Sec. 125. Congressional Oversight Panel.
Sec. 126. FDIC authority.
Sec. 127. Cooperation with the FBI.
Sec. 128. Acceleration of effective date.
Sec. 129. Disclosures on exercise of loan authority.
Sec. 130. Technical corrections.
Sec. 131. Exchange Stabilization Fund reimbursement.
Sec. 132. Authority to suspend mark-to-market accounting.
Sec. 133. Study on mark-to-market accounting.
Sec. 134. Recoupment.
Sec. 135. Preservation of authority. TITLE II—BUDGET-RELATED PROVISIONS
Sec. 201. Information for congressional support agencies.
Sec. 202. Reports by the Office of Management and Budget and the Congressional Budget Office.
Sec. 203. Analysis in President’s Budget.
Sec. 204. Emergency treatment.
Sec. 301. Gain or loss from sale or exchange of certain preferred stock.
Sec. 302. Special rules for tax treatment of executive compensation of employers participating in the troubled assets relief program.
Sec. 303. Extension of exclusion of income from discharge of qualified principal residence indebtedness.
The ACORN section really is completely out of the bill.
Excuse me, but has anyone said what might happen to this bill when it reaches the senate?
I think a part of the bill should be an independent commission with the power to subpoena and refer indictments to the judiciary department. Financial service executives should be hauled in to see there was fraud committed . Politicians should be hauled in to see if there were ethics violations. Ken Lay was prosecuted for fraud at Enron, someone should be going to jail for this fiasco. Barney Frank should publicly respond for blocking reform regulation. I don’t understand how Obama gets away by saying this was caused by deregulation, what deregulation?
The House website will be down because the House will do as it pleases, and we’ll let them.
Section 15, page 40 still has the language making the 700B a revolving credit amount - not a cap.
" such authority shall be limited to $700,000,000,000 outstanding at any one time. "
Clever. They could pump Trillions through this pipeline, 700B at a time. These people are NOT to be trusted.
If we exclude “foreign” banks that have branches here, we could have major international problems, considering we depend on foreigners to live. $2B a day. What will they think if we shove them under the bus? Will they retaliate? Will we worsen the GLOBAL credit crisis?
Democrats in Congress, to the world's bankers:
. . . . .
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Another Malkin Analysis Thread. She’s one to watch today.
It really stinks that they can’t even keep their pages up for people to study. Stinks bad.