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Old 09-20-2008, 02:19 PM
 
Location: Seattle, WA
209 posts, read 561,936 times
Reputation: 87

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Well here you go, I did some searching and here is the draft text of the bill that congress is now reviewing and most likely will pass. Please leave your comments below after you read through it.

Text of Draft Proposal for $700 Billion Financial Sector Bailout Plan
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Old 09-20-2008, 02:33 PM
 
20,194 posts, read 22,066,314 times
Reputation: 9258
I like how they are also buying loans on COMMERCIAL properties that went bad... Donald Trump and developers must be happy....
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Old 09-20-2008, 02:55 PM
 
Location: Fort Myers Fl
2,305 posts, read 2,849,172 times
Reputation: 920
Quote:
Originally Posted by evilnewbie View Post
I like how they are also buying loans on COMMERCIAL properties that went bad... Donald Trump and developers must be happy....

I believe that is the next thing to fall. May as well "Nip it in the Bud"
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Old 09-20-2008, 03:30 PM
 
Location: Backwoods of Maine
7,337 posts, read 9,327,272 times
Reputation: 20317
Thanks for this information! I didn't run across any of this in my travels!
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Old 09-20-2008, 03:35 PM
 
Location: America
6,993 posts, read 16,294,321 times
Reputation: 2083
buy up mortgages, "fix them" so people can continue paying. Our over seas financial masters (FCB and FWF) don't come after us (the united states) for defaulting. Oh and save the Feds buddies on wall street. meh, whatever.
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Old 09-20-2008, 03:46 PM
 
Location: In my playhouse.
1,047 posts, read 2,625,491 times
Reputation: 1730
So now the Government is getting into flipping houses & businesses? Smoke and mirrors..................big groan here. I wish I could make large sums of my personal debt disappear too. Big money players playing. The very sad part of this mess is it will hurt the wage earner and help big money.
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Old 09-20-2008, 04:36 PM
 
Location: Great State of Texas
86,067 posts, read 78,565,623 times
Reputation: 27667
So does this piece mean no one can stop or reverse any decisions made by the Treasury nor can they review it before it's made public ?
Boy..talk about a blank check.

"Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency."
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