Bipartisan Agreement reached by Congress

[ploto]

NEW YORK (CNNMoney.com) -- Lawmakers have reached agreement on a bipartisan counterproposal to the Bush administration's $700 billion financial bailout plan.

Both parties and both houses agreed Thursday to a set of principles on revisions to the rescue plan, which calls for the Treasury Department to buy up bad mortgage securities from banks in an effort to get them to lend again.

The proposal will help homeowners, curb executive pay packages at participating firms and provide oversight of Treasury's actions, said Sen. Christopher Dodd, D-Conn., a key architect of the congressional effort. He did not provide details but said lawmakers will sit down with Treasury officials to discuss it.

"We've reached a fundamental agreement on a set of principles, one, for taxpayers, which is tremendously important," Dodd said.

Americans should "legitimately feel better about the overall approach," said Rep. Barney Frank, D-Mass., who heads the House Financial Services Committee.

Taxpayers will be protected under the Congressional version of the bailout, said Rep. Spencer Bachus, R-Ala., the top Republican on the House Financial Services Committee.

http://money.cnn.com/2008/09/25/news/economy/deal_reached/index.htm?postversion=2008092513

[Shastafarian]

Thanks John McCain!

[Viva Las Espuelas]

Chris Dodd. head architect. :rolleyes what a joke.

i can't wait for the FBI to utter his name. i can't wait for them to utter anyone's name period.

[boutons_]

"However, House Minority Leader John A. Boehner (http://projects.washingtonpost.com/congress/members/b000589/) (R-Ohio), gathering his GOP colleagues in a private huddle for a third straight morning, declared that there was no bipartisan compromise.


"There is no deal," Boehner said, according to participants in the meeting."


http://www.washingtonpost.com/wp-dyn/content/article/2008/09/25/AR2008092500268.html?hpid=topnews

[KenMcCoy]

Chris Dodd and Barney Frank:flipoff

Barney Frank - 2003



I want to begin by saying that I am glad to consider the legislation, but I do not think we are facing any kind of a crisis. That is, in my view, the two government sponsored enterprises we are talking about here, Fannie Mae and Freddie Mac, are not in a crisis. We have recently had an accounting problem with Freddie Mac that has led to people being dismissed, as appears to be appropriate. I do not think at this point there is a problem with a threat to the Treasury.

http://www.taxfoundation.org/blog/show/23617.html



Chris Dodd - 2008



"What's important are facts - and the facts are that Fannie and Freddie are in sound situation," Dodd said on CNN's Late Edition on Sunday before the announcements by Treasury and the Fed. "They have more than adequate capital. They're in good shape."

http://money.cnn.com/2008/07/13/news/economy/fannie_freddie_sunday/index.htm?postversion=2008071318

[Wild Cobra]

I watched the senate session on this but turned it of about two hours ago when Russ Feingold took his time to engage in "Bush Bashing" rather tha mention a word about the issue. I forgot to turn it back on, but notice the misleading words in the article. I say that because I really doubt the senate voted yes on the house version already.

One key thing...

It says nothing about both houses voting YES on it!

I really doubt it will go through with the earmarks Pelosi has in the bill!

[Viva Las Espuelas]

"However, House Minority Leader John A. Boehner (http://projects.washingtonpost.com/congress/members/b000589/) (R-Ohio), gathering his GOP colleagues in a private huddle for a third straight morning, declared that there was no bipartisan compromise.


"There is no deal," Boehner said, according to participants in the meeting."


http://www.washingtonpost.com/wp-dyn/content/article/2008/09/25/AR2008092500268.html?hpid=topnews


wow. i'm surprised you posted that.
i guess it wasn't bipartisan.
.....and the crowd goes mild.

[Viva Las Espuelas]

Pelosi has in the bill!which are?