Page 1 of 2 12 LastLast
Results 1 to 15 of 17

Thread: Congress reaches deal on a revised bailout plan

  1. #1
    Elite Member kingcap72's Avatar
    Join Date
    May 2007
    Location
    10 miles from Pootie Tang
    Posts
    21,909

    Default Congress reaches deal on a revised bailout plan

    Congress has a plan

    Lawmakers agree on bailout principles to protect taxpayers and ensure oversight.

    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.
    Congress: We have bailout deal



    If this passes, McCain will try and take credit for it by saying he rode into town and saved the day.

  2. #2
    Elite Member
    Join Date
    Oct 2005
    Posts
    4,128

    Default

    Since he was still yapping about his campaign on TV late last night, at most he's only been in Washington for a few hours. How could he possibly take credit?

    But I'm sure he'll find a way

  3. #3
    Elite Member Grimmlok's Avatar
    Join Date
    Oct 2005
    Location
    In WhoreLand fucking your MOM
    Posts
    55,372

    Default

    Wait, the dems didn't cave?

    *blinks*
    I am from the American CIA and I have a radio in my head. I am going to kill you.

  4. #4
    Elite Member cmmdee's Avatar
    Join Date
    Sep 2007
    Location
    Eva's Love Den
    Posts
    25,572

    Default

    I hope this bailout plan works.

    But aren't McCorpse and Obama supposed to meet with Dumbya anyway today?

  5. #5
    Elite Member Grimmlok's Avatar
    Join Date
    Oct 2005
    Location
    In WhoreLand fucking your MOM
    Posts
    55,372

    Default

    it wont work, but it's a nice try
    I am from the American CIA and I have a radio in my head. I am going to kill you.

  6. #6
    Elite Member kingcap72's Avatar
    Join Date
    May 2007
    Location
    10 miles from Pootie Tang
    Posts
    21,909

    Default

    Quote Originally Posted by cmmdee View Post
    I hope this bailout plan works.

    But aren't McCorpse and Obama supposed to meet with Dumbya anyway today?
    Yeah, it's nothing but a glorified photo-op.

    But watch McCain try to come up with an excuse about why the debate should still be postponed.

    As far as the bailout goes, we're still going to be in a recession for about another 16-18 months, according to most experts. So, it'll work in the short term, but not in the long term.

  7. #7
    Elite Member cmmdee's Avatar
    Join Date
    Sep 2007
    Location
    Eva's Love Den
    Posts
    25,572

    Default

    ^^ Perhaps they'll photoshop Mccain 20 years younger?

  8. #8
    Elite Member Grimmlok's Avatar
    Join Date
    Oct 2005
    Location
    In WhoreLand fucking your MOM
    Posts
    55,372

    Default

    nah, they'll just buy him 20 thousand dollars of expensive tranny makeup to hide the fact that he's one weekend at bernie's away from a grave plot.
    I am from the American CIA and I have a radio in my head. I am going to kill you.

  9. #9
    Elite Member sluce's Avatar
    Join Date
    Oct 2005
    Location
    Top Secret Spy for Leann Rimes
    Posts
    37,330

    Default

    How do you think this will effect mortgage interest rates in the next few months?

  10. #10
    Elite Member cmmdee's Avatar
    Join Date
    Sep 2007
    Location
    Eva's Love Den
    Posts
    25,572

    Default

    No amount of make up could fix this mess


  11. #11
    Elite Member kingcap72's Avatar
    Join Date
    May 2007
    Location
    10 miles from Pootie Tang
    Posts
    21,909

    Default

    Quote Originally Posted by cmmdee View Post
    ^^ Perhaps they'll photoshop Mccain 20 years younger?
    McCain still looked old 20 years ago.

    Quote Originally Posted by sluce View Post
    How do you think this will effect mortgage interest rates in the next few months?
    That's a good question. Some people have been saying that they should cut the interest rates, or come up with some other way to take the pressure off of some homeowners who are facing foreclosure. But who knows what will happen.

  12. #12
    Elite Member
    Join Date
    Aug 2008
    Posts
    1,764

    Default

    Will McCain go to the debate now, I wonder?

  13. #13
    Elite Member
    Join Date
    Oct 2005
    Posts
    4,128

    Default

    I wish interest rates would go up. I don't need to borrow any money. But inflation is higher than interest rates on deposits, and we all know that equity investments are going down, so basically I lose money every day.

  14. #14
    Elite Member Fluffy's Avatar
    Join Date
    Nov 2007
    Posts
    5,600

    Default

    I just heard on CNN that it'll be 350 billion now and the rest in installments. All with strings attached.

  15. #15
    Elite Member louiswinthorpe111's Avatar
    Join Date
    Oct 2005
    Location
    Middle America
    Posts
    11,924

    Default

    What interest rates do you mean? Mortgage interest rates have risen this week, and once they finalize the bailout, mortgage interest rates will go back down.

    You don't want the Fed to raise the prime rate. That will counteract any benefit the bailout will have.

    Refinancing is the fastest way to get money flowing again. If the rates go up, people won't refinance. When people refinance, it frees up money to cover and buy other things, gas, cars, credit card payments, furniture etc. A raise of interest rates now would halt the market completely.

Page 1 of 2 12 LastLast

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Similar Threads

  1. Hey Congress, you already passed homeowner bailout!
    By tkdgirl in forum U.S. Politics and Issues
    Replies: 1
    Last Post: September 23rd, 2008, 05:33 PM
  2. George Bush's cameo appearance on Deal or No Deal
    By NicoleWasHere in forum Television and Movies
    Replies: 0
    Last Post: April 27th, 2008, 09:06 PM
  3. Replies: 28
    Last Post: April 17th, 2008, 07:54 PM
  4. George Clooney made out with Deal or No Deal Model
    By Nitelite in forum Gossip Archive
    Replies: 0
    Last Post: September 21st, 2006, 06:51 PM
  5. Congress says only Bush can stop port deal
    By Grimmlok in forum U.S. Politics and Issues
    Replies: 1
    Last Post: March 2nd, 2006, 12:41 PM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •