Posted on 09/22/2008 12:47:29 PM PDT by NormsRevenge
WASHINGTON – 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 ...
(Excerpt) Read more at news.yahoo.com ...
Bush just needs to go away.
No wonder stocks are down 4% and gold is up $50.
OMG, here comes Hell...on paper.
Rush? Lol. He said we needed to bailout Bear Stearns.
This bailout needs to be scuttled, quickly.
I think the better alternative, which was proposed by Newt Gingrich, is the elimination of the cap gains tax.
Eliminating cap gains would draw in foreign investment, bring jobs to America, maybe even entice companies to relocate to America.
Eliminating cap gains would reward successful businesses, give a break to struggling businesses and punish failing businesses, because failing businesses have no cap gains to report.
See Newt’s article:http://corner.nationalreview.com/post/?q=ZGE5MmE0YmRiODA3YTRiNzFlN2FmNDU5N2I0ZDc3YTE=
Getting government out of the way is much better than creating a massive government program.
Paulson says this must be done by Friday, something stinks. $700 billion, isn’t that larger than the entire military budget?
Oh dear Lord, tell me this is a joke.
Yup. Headline should be “Bush caves in again (sun rises in East alert)”
NOOOOOOOOOOOooooooooooo!!!
I can’t believe this is happening.
God help us.
They are backing up on the equity stake idea.....That’s what this means, or should mean.
Barney Frank, according to his OWN TESTIMONY couldn't over see his own HOME, let alone any important facet of our economy!
Barney Frank and Christopher Dodd need to be put in JAIL for their criminal complicity in this crime of THEFT against the American people.
If Rep. Barney Frank, the Financial Services Committee chairman, says the financial rescue plan is OK, it is NOT OK for normal, conservative taxpayer citizens. The man and his party are twisted, nuts that are parasites on the rest of us.
Think the drop in stock prices and record increase in oil prices had anything to do with Congress being unwilling to drill within 50 miles of shore?
That 700B is going against a 50 trillion world collapse.
Itth `bi-partithan’—thee you at the thignin’!
I don’t understand how eliminating capital gains is going to bring in foreign investments and American jobs, unless they relocaate to America 1st?
He sure is pushing for this whole nightmare with no oversight, isn’t he?
Barney says they have penetrated the difficult issues, that he is repeatedly pushing for the people of America, and that he hopes a final thrust will get the job done soon.
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