According to reports late tonight, negotiators have (re-)reached a tentative deal on the bailout of the financial system. Full story here, but the gist as follows:
- $700-billion in total
- $350-billion immediately, with some of that earmarked for the insurance initiative championed by House Republicans
- "Reasonable" limits on severance packages
- Warrant coverage
- Some sort of tithing of the financial sector in five years if the bailout isn't profitable
- Government must renegotiate bad mortgages it acquires to try to keep people in houses
- Full text Sunday, as is a House vote, and then a Senate vote Monday
Thank god McCain came in to Make all these huge changes.... I Mean, Hell we could have voted on it on friday..... Now Monday...... Notice the other change... A Tith on the financial sector... Not a Tax..... See Republicans can't make a move for Adding Taxes. But a Tith.... That is ok...
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