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Going Forward

September 29, 2008 - by Donny Shaw

ABC 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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