$700B bailout plan breaks apart; talks to continue
By icyorchid
@icyorchid (2564)
United States
September 25, 2008 8:51pm CST
Urgent efforts to lash together a $700 billion rescue plan for the national economy broke apart Thursday night, hours after key lawmakers had declared they had reached a deal.
Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke sped to Capitol Hill to try to revive or rework the proposal that the administration says must be quickly approved by Congress to stave off economic disaster.
Congressional leaders were to meet with the economic chiefs into the night.
THIS IS A BREAKING NEWS UPDATE. Check back soon for further information.
AP's earlier story. http://news.yahoo.com/s/ap/20080925/ap_on_bi_ge/financial_meltdown
Do you think they will get this together?
3 responses
@sedel1027 (17846)
• Cupertino, California
26 Sep 08
I am not sure what is going to happen with tat bills. Seems to me that they are allocating way more money than is required to bail these folks out.
Personally, I think that the home owners who got themselves in the mess, should have to pay everything back. I heard on the radio that once the mortgages are bought, that a lot of the folks won't have to pay back what they owe!
We do some people think that the bail out should only be 25B, while other think 700B will be needed? That really bothers me.
I am still not sure that this will help the common average joe.
@WhatsHerName (2716)
• United States
26 Sep 08
I'm not a bit surprised. The reason we are in this position in the first place is because no one in congress can agree with each other. I don't think they should be making a hasty decision anyway.
Sometimes I think they should just let those companies fall and see what happens. I'm very angry and upset about this. All we can do is pray our lol, "leaders" can solve this problem as Americans. And that we can somehow get through this and come out stronger and more united than we ever have been.
@stephcjh (38473)
• United States
26 Sep 08
Who knows? The economy is in horrible shape and I really think it would take a miracle to do anything about it and to fix it. I think it will always be at the taxpayers expense.
