Deal almost stuck, will be passed in a day or two

News of the bipartisan consensus on the general direction of the legislation comes ahead of a 4 p.m. meeting at the White House between President Bush and congressional leaders. Presidential candidates John McCain and Barack Obama will also attend.

McCain had called on Obama to delay their first presidential debate, scheduled for Friday night, until after a deal had been reached. On Thursday, the Republican presidential hopeful welcomed news that a broad consensus had been reached, but he was not ready to say he will attend the debate. McCain spokesman Brian Rogers says: "There's no deal until there's a deal."

http://www.npr.org/templates/story/stor ... d=95042937

Re: Deal almost stuck, will be passed in a day or two

I was happy that Bush coughed up his ego enough to invite both candidates since it was HIS administration that submitted the VERY rejected first proposal. Bush already killed a positive spin he could have on this crisis, but nevertheless I was glad he called out to them. The prevailing thought, regardless of cable spin, is that these two are now the voted heads of their parties, and they are working/paid for by US Senators. I want them to WORK, forget foreign policy right now, if we don't get this together we as a collective group are screwed.

I was relieved to hear how Warren Buffet is trying to do his part to help the economy, even if it is in his interest, he knows it's to give the economy a shot in the arm.

http://www.usatoday.com/money/industrie ... dman_N.htm

[Rapunzel]

Re: Deal almost stuck, will be passed in a day or two

I agree with Ron Paul (see other thread). This entire thing is a very bad idea (ie the bailout).

I think that in hindsight we will see this as a very poor stop-gap measure (ie a little band-aid) that didn't address the real problems.

[DCJenn]

Re: Deal almost stuck, will be passed in a day or two

I have no doubt that in as little as SIX months, it will be glaringly obvious that this was a colossal mistake.

You know who I would like to see get some kind of ding are the mortgage brokers- apparently there are a huge majority of people who actually qualified for conventional loans but were not ever told that and were then steered to the crazy ass ARMs. I think I heard that something like 65% of the people at risk for losing their homes could have been given a regular loan.

My colleague was a loan writer for a pretty nasty firm and she admits that they wrote bad loans to people, they knew that the language was vague and they were preying on first time homebuyers who were achieving the Great American Dream. She went back to social work before the karma gods caught up w/ her.

J