Yes Irene, we seem to have a deal….and it is not all that dis-similar to the original 4 pages. So it took these people a week to comeback to the original document.
Lawmakers finished writing the bill late Sunday, after which Speaker of the House Nancy Pelosi declared it “frozen,” meaning no changes would be made. The bill leaves many mechanics of the operation up to the Treasury. Among these are the crucial issues of how the U.S. government would decide which assets it will buy and how it would decide what to pay for them. The legislation leaves the Treasury 45 days to issue guidelines on those procedures. The bill awaits votes in Congress starting on Monday.
The political fallout from the bailout could be substantial, given the enormous expenditure of taxpayer money. Some polls show wide opposition. But the legislation includes provisions designed to guard against ultimate losses for the government. And it calls on the Treasury, as an owner of mortgage securities, to “encourage the servicers of the underlying mortgages” to minimize foreclosures.
Considering that the PEOPLE, you and me, were against the bailout by at least 100 to 1, but yet the people that you voted for to do business as you see fit, decided that Wall Street was far more important than the wishes of the people. You are getting screwed without the kiss. And these slugs will be looking for your votes in November.
Remind me again the advantages to the representative form of government. Apparently I missed something in my 6th grade civics class.