Thursday, September 25, 2008

Bailout plan

House and Senate negotiators from both parties said Thursday that they had reached general agreement to move forward with the administration’s proposed $700 billion bailout of the financial system, authorizing unprecedented government intervention to prevent what President Bush warned could be a widespread economic collapse. Emerging from a nearly three-hour meeting in the Capitol, Republicans and Democrats said the legislation would include limits on the pay packages for executives of firms that seek assistance and a mechanism for the government to take an equity stake in some firms, so taxpayers have a chance to profit if the bailout plan works.

U.S. government announces AIG bailout plan
In a bid to save financial markets and the economy from further turmoil, the U.S. government agreed Tuesday to provide an $85 billion US emergency loan to rescue the huge insurer ...
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Bush defends bailout plan
WASHINGTON: President George Bush has defended the $700 billion (R5.6 trillion) cost of his financial bailout proposal, saying it needed to be massive so that turmoil on Wall ...
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New mortgage bailout plan: Do you qualify? - Buying a House - MSN Real ...
As the Bush administration unveils its plan to help homeowners, we look at the proposal's details. By BusinessWeek.com
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Bailout plan boosts stocks
Wall Street was encouraged Monday by the Bush administration’s plan to bail out Fannie Mae and Freddie Mac — sending the Dow up nearly 350 points before later retreating ...
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Paulson: Taxpayers Should Bail Out Subprime
Instead, Paulson capped his punish-the-public debtor bailout plan with a call to Congress to let taxpayers be bled by their local governments in order to fund the bailout.
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Lawmakers reach agreement on bailout plan
WASHINGTON - Top lawmakers announced today that they had reached an agreement in principle on how to bail Wall Street's financial industry out of its current crisis and that they expected to send the $700-billion plan to President Bush within days ...
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Source: Chicago Tribune
NewsDateTime: 1 hour ago

Treasurys mixed as bailout takes shape
NEW YORK (CNNMoney.com) -- Treasury prices were mixed Thursday afternoon as negotiations over the government's immense rescue plan for the financial sector appeared to inch closer toward completion and stocks rallied. Prices for short-term notes and ...
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Source: CNN Money
NewsDateTime: 2 hours ago

Bush Administration, Congress Getting Nearer to Big Wall Street ...
Bush Administration, Congress Getting Nearer to Big Wall Street Bailout Plan ... By Larry McShane Daily News Staff Writer Optimism over the proposed federal bailout package helped the Dow Jones ...
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Source: US News and World Report
NewsDateTime: 1 hour ago

Stocks Bounce as Bailout Takes Shape
The bailout plan will approve a $700 billion fund that would be available in installments, according to a Wall Street Journal report. The first tranche would be a sizable $250 billion, however, compared to the original $150 billion proposal, which ...
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Source: BusinessWeek
NewsDateTime: 1 hour ago

McCain quiet on debate despite bailout plan
Stage and production crews make last-minute adjustments to the set of the first presidential debate, scheduled for Friday at the Ford Center in Oxford, Miss. WASHINGTON - John McCain’s campaign welcomed news of an agreement in principle on Thursday ...
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Source: MSNBC
NewsDateTime: 1 hour ago


The announcement that lawmakers had reached an accord came on a day of political theater at the Capitol and at the White House where President Bush met with Congressional leaders and the presidential candidates, Senator John McCain, Republican of Arizona, and Senator Barack Obama, Democrat of Illinois. “We’re in a serious economic crisis,” Mr. Bush told reporters as the meeting began, shortly before 4 p.m. in the Cabinet Room of the White House. “This meeting is an attempt to move the process forward. My hope is we can reach an agreement very shortly.” Mr. McCain was seated at one end of a long conference table, Mr. Obama at the other, with the president and congressional leaders between them. Neither spoke, though Mr. McCain smiled broadly as reporters shouted questions that went unanswered by President Bush.


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