BREAKING: Bail-Out Break-Thru has been reached... CNN Reporting

[DemoRabbit]

Still getting details but apparently a deal has been reached...

Reid: "This evening has been extremely difficult"

Pelosi: "All of this being done to insulate Americans from crisis"


Reid: (Paraphrasing) - Break thru came about an hour ago... Pelosi came up with language... credits her heavily... has to do with protecting tax-payers... Dodd has had good help... credit Schumer...

Pelosi and Bush talked on phone about 8pm.
Pelosi returned to her office about 9pm... talked with Reid and other house members... heavy negotiations began and this "break-thru" came in those hours.


Link: http://www.cnn.com/2008/POLITICS/09/28/bailout.ap/index.html

Congressional leaders and the Bush administration have reached a tentative deal on a bailout of imperiled financial markets that could cost taxpayers hundreds of billions of dollars.

The House could vote on it Sunday and the Senate on Monday. House Speaker Nancy Pelosi announced the accord just after midnight Saturday and said it still has to be put on paper.

Treasury Secretary Henry Paulson talked of finalizing the deal but added: "I think we're there."

[nadinbrzezinski]

1. I just hope the radical republicans did not get all they wanted

not even a little of what they wanted

[Bluebear]

2. Yay! Mortgage help for those facing foreclosure.....oops, guess not

[nadinbrzezinski]

4. Will see, they have not released the fine print yet

that is what I am waiting for...

the damn fine print

[Bluebear]

5. You're exactly right. All this Congressional patting-each-other-on-the-back statements

Out with the details!

[nadinbrzezinski]

8. AP has the story out, but thin on details though

now it is UP TO 700 B... they are gonna go with the 250 floated yesterday...

Lord I hate readying tea leaves

Well need to hit the shower... after exercise

Will see if the new paper is on site when I come out.

Here's link

http://news.yahoo.com/s/ap/financial_meltdown;_ylt=AqFbjKpK5otEDXyEncfsqSqs0NUE

[sandnsea]

14. HOPE Mortgage Plan already exists

and improvements take affect Oct 1. I don't know that more help was ever really needed. If this program needs more money, it would be more effective to advocate for that. Funny how nobody on this board GAVE A SHIT about people in trouble with their mortgages until they had an opportunity to bash Democrats in Congress.

[nadinbrzezinski]

18. As of last night HOPE was gonna see expansion.

pubbies were balking

[Bluebear]

23. Well I gave a shit and as of last evening, more "HOPE" was coming.

[livelongandprosper]

20. You know, if you were someone who bought a house

you couldn't afford you deserve yo lose it.

People talk about greed on Wall Street. Well greed is on Main Street, too. It's everywhere where humans live.

[Bluebear]

22. Malarkey. People are hurting. Jobs lost. Health care. Not only "couldn't afford the house".

[wundermaus]

3. Oh NOOOO00000oooooooo.....

[neverforget]

6. I wonder how far up the river they sold us out?

[leftofcool]

9. Are you kidding me?

They sold us, our kids, our grandkids and probably our great grandkids

[neverforget]

12. What's really sad about this is that it is just delaying the inevitable

massive correction that needs to take place. Decades of living on credit is catching up to us.....

[leftofcool]

17. Yep, and this is just the tip of the iceberg

[Irish Girl]

7. i hope Congress hasnt sold its soul to the devil

:(

[leftofcool]

16. They have indeed and we will all be in hell before it is over

Something had to be done, but this plan wasn't it

[DemoRabbit]

10. Link and more detailers added to OP

[MadHound]

11. Buckle up people

Once again we've been stampeded right over the cliff, and the landing is going to be a hard one, hard enough that many won't survive.

The ratings on US Treasury Bonds are going to tank, and when that happens it becomes hard to fund your government when nobody wants to buy your debt. You either go without funding or set off hyperinflation in your country.

The US is soon going to be entering banana republic territory.

[avaistheone1]

13. Oh weeeeee! Ownership stake for taxpayers.......naw probably not.

[shadowknows69]

15. Credit to Schumer and Pelosi

Do I need to read any further than that? How bad is the fucking.

[knowledgeispwr]

19. I think we all need to wait for details before jumping to conclusions

I know there are lots of reasons to be pessimistic, but we should wait before making statements about what has been done or not been done.

[ClarkUSA]

21. Nothing has been written down yet -- let's see what the deal says before we jump to conclusions.

Also, I have a feeling that McCain is not done playing bailout politics yet.

[Tierra_y_Libertad]

24. How long before they tell us they were "misled" into buying this pig?

Not to mention the long hours spent applying lipstick to it.