"$700 Billion Is Sought for Wall Street in Massive Bailout"
"$700 Billion Is Sought for Wall Street in Massive Bailout," see http://www.nytimes.com/2008/09/21/business/21cong.html. Part of the article is below:
"WASHINGTON — The Bush administration on Saturday formally proposed to Congress what could become the largest financial bailout in United States history, requesting unfettered authority for the Treasury Department to buy up to $700 billion in mortgage-related assets.
The proposal, not quite three pages long, was stunning for its stark simplicity. It would raise the national debt ceiling to $11.3 trillion. And it would place no restrictions on the administration other than requiring semiannual reports to Congress, granting the Treasury secretary unprecedented power to buy and resell mortgage debt. "
.......http://www.JoeFRocks.com/
NEM XAU HUI
"WASHINGTON — The Bush administration on Saturday formally proposed to Congress what could become the largest financial bailout in United States history, requesting unfettered authority for the Treasury Department to buy up to $700 billion in mortgage-related assets.
The proposal, not quite three pages long, was stunning for its stark simplicity. It would raise the national debt ceiling to $11.3 trillion. And it would place no restrictions on the administration other than requiring semiannual reports to Congress, granting the Treasury secretary unprecedented power to buy and resell mortgage debt. "
.......http://www.JoeFRocks.com/
NEM XAU HUI
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posted by Joe Ferrazzano at
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