Monday, September 29, 2008

Draft of proposed government $700 billion financial rescue plan

From NY Times article:
"The final version of the bill included a deal-sealing plan for eventually recouping losses; if the Treasury program to purchase and resell troubled mortgage-backed securities has lost money after five years, the president must submit a plan to Congress to recover those losses from the financial industry. Presumably that plan would involve new fees or taxes, perhaps on securities transactions."

Pdf download of full text of bailout plan

No comments: