Breakthrough: next administration will pay for bailout….
Posted by ecoshift on September 28, 2008
I suppose it’s always easier to figure out how to spend money than it is to figure out where it’s going to come from. I’ve got an idea, let’s assign that task to someone whose not at the meeting….
Talk about easy monthly payments and no money down…
Breakthrough Reached in Negotiations on Bailout – NYTimes.com
“Among the last sticking points was an unexpected and bitter fight over how to pay for any losses that taxpayers may experience after distressed debt has been purchased and resold.
Democrats had pushed for a fee on securities transactions, essentially a tax on financial firms, saying it was fitting that they contribute to the cost.
In the end, lawmakers and the administration opted to leave the decision to the next president, who must present a proposal to Congress to pay for any losses.”