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Going Forward
September 29, 2008 - by Donny ShawABC News runs down four options congressional negotiators are considering for getting a bailout bill passed this week. Meanwhile Former Labor Secretary Robert Reich makes a prediction:
>A scaled-down bill will be enacted by the end of the week. It will provide the Treasury with a first installment of $150 billion. Treasury can use it to back Wall Street’s bad debts with lend no-interest loans of up to two years, until the housing market rebounds. Or to invest in Wall Street houses directly, in exchange for stocks and stock warrants. There will be strict oversight. Congressional leaders will promise further installments, but with conditions calling for limits on salaries and relief to distressed homeowners.
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Comments
Why isn’t the congress meeting again until Thursday on this? I can’t imagine anything more important on their calendar.
JEWISH HOLIDAY
I AM SO UPSET WITH YOU AND ALL THE REPUBLICANS THAT VOTED THE BILL DOWN.YESTERDAY WAS A FINE EXAMPLE WHY THE DEMOCRATS WILL WIN IN NOV. BECAUSE NOW THE AMERICAN PEOPLE HAVE LOST A TRILLON DOLLARS I AM A REPUBLICAN BUT NOT A PROUD ONE NOW.
I’d like to thank all senators and congressmen who told us that doing nothing will bring us to the brink of national and global disaster and then taking a break for 2 days. Shameful,now i know why approval rating is so low.
What is amazing to me is the fact so many people do not realize their savings (IRA, 401(k), etc) are tied to this issue. Many feel it is only for homeowners who are having difficulties making thier house payment. It is disappointing so many don’t understand this situation has a direct, adverse, affect on their retirement savings.