Looks like Congressional and Administration negotiators have reached a deal on the bailout, one larded with a little something for everyone. That's the way it works in DC, and on the whole I think what they've brought forward is sensible and proportionate.
Of interest to me are a couple of provisions, one that doles out the money in steps (as was advocated by Senator Chuch Shumer--and with which I agreed) and one that permits the President to propose a fee on the financial services industry if after 5 years, the government hasn't earned its money back (who do they think will really pay this fee?)
Executive compensation took a hit too; don't know too much about the restrictions, but it will be interesting to see how this shakes out.
Sunday, September 28, 2008
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment