From the AP via yahoo finance.
A key Democrat negotiating a $700 billion financial bailout says the Bush administration has agreed to include mortgage aid and strong congressional oversight in the plan.
Rep. Barney Frank, the Financial Services Committee chairman, says a great deal of progress has been made in talks between lawmakers and President Bush’s team on the rescue.
A government official with knowledge of the talks also said the administration has agreed to create a plan to help prevent foreclosures on mortgages it acquires as part of the bailout.
That screaming sound you hear is the dollar being bludgeoned and stabbed to death. Once Obamamessiah seizes power, nationalizes everything else, and taxes everyone who has 2 nickles to rub together into oblivion, we will be well on our way to 2nd world status.
Better than the alternative JD. And taxes are going up no matter who wins.
Some people, in fact the majority of this country who lives paycheck to paycheck will tell you with the price of gas and insurance we’ve already hit 2nd world status.
The totality of the damage Bush has done to this country with his ill advised and made up war in Iraq alone will insure that history will record his presidency as a failure. He was asleep when ENRON fleeced utility consmers on the west coast and was alseep while ENRON and WorldCom were cooking their books and defrauding their investors. And he was asleep on tower with subprime until it bitch slapped him.
Someone on the left wondered offline why I gave Bush credit for doing something now because he was forced to. Given all the previous failings in decision making during his tenure counting on him to do right was giving the man too much credit and to that extent I’ll give him credit where it is due.
sop
I wonder, too, Sop since this looks like it will be as profitable to his friends/contributors as his failures have been.
I’d like to see something added to to bailout that would put anyone who misled the American people about this crisis faced a swift and certain punishment.
A democrat controlled Congress will hand Obamamessiah the shovel, and he’ll keep digging. Even if McCain maintained the status quo, he would be a better choice.
Nowdoucit-
Does that include Barney Frank and Chris Dodd? After Greenspan, they bear as much blame as anyone.
I hate to see our country faced with such a poor choice, but that sneaky little pice of envy that creeps up in my soul will be glad when you Obama supporters get that line from The Who – “Meet the new boss – same as the old boss.”