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| Details of the financial package have been published http://www.n00bfest.com/phpBB3/viewtopic.php?f=85&t=25020 |
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| Author: | Judicator [ Sun Sep 28, 2008 8:03 pm ] |
| Post subject: | Details of the financial package have been published |
http://news.bbc.co.uk/2/hi/business/7640872.stm Key points: -The government will get the money in tranches - $250bn straight away, and $100bn at the request of the White House; Congress can veto the release of the remaining $350bn -Banks that accept bail-out money will have to hand over shares in return, which allows tax payers to benefit from the banks' recovery -Top bankers, meanwhile, will see their pay limited, and "golden parachutes" - huge payments when they leave the firm - will be banned -The banking industry will have to help finance the bail-out if the money can not be recovered from the struggling banks themselves -Four agencies will monitor the deal, including an independent Inspector General and a bipartisan oversight board -Banks will be obliged to join an insurance programme to protect them against the losses of mortgage-backed securities The proposed legislation was now "frozen", said Ms Pelosi, which means critics can not strike out individual provisions that they do not like. |
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| Author: | CupofSoup [ Sun Sep 28, 2008 8:09 pm ] |
| Post subject: | |
So where exactly is this money coming from? |
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| Author: | Vision [ Sun Sep 28, 2008 8:38 pm ] |
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i like the sounds of the key points. I'll review the post later |
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| Author: | Mantis [ Mon Sep 29, 2008 9:06 am ] |
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CupofSoup wrote: So where exactly is this money coming from? From tax payers, as always. |
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| Author: | Judicator [ Mon Sep 29, 2008 1:56 pm ] |
| Post subject: | |
Just in; the package has failed in the House. |
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| Author: | Ozark_52 [ Mon Sep 29, 2008 2:18 pm ] |
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http://news.bbc.co.uk/2/hi/business/7641733.stm |
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| Author: | Judicator [ Mon Sep 29, 2008 2:24 pm ] |
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http://money.cnn.com/data/us_markets/ http://money.cnn.com/data/world_markets/index.html US and world markets, respectively... |
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| Author: | Falcon [ Mon Sep 29, 2008 2:36 pm ] |
| Post subject: | |
in my own opinion by the time all these bail-out plans pass and take effect the economy will be on its way out of the ressesion. every ones best bet is to sit tight and wait it out... my 2 cents |
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