Current+Nick

[|source on rescue][|plan]  there are many opinions on whether to take action right away and possibly save the economy or improve the plan to make it definitely that you will improve the economy.  Emergency Oversight Board: the chairman of the Securities and Exchange Commission; and two non-government employees with "financial expertise" in the public and private sectors, one each appointed by the majority and minority leadership in Congress. What is the job of the Emergency oversight board? How would they take action if needed? Reports are also done more frequently then proposed by the bush administration what are the reports on why would they need to be done more freqently? They have not ruled out the fact that the cost could rise above the original cost of 700 billion "We’ll ask for what we think is a right amount to give us plenty of flexibility.” Mr. Paulson [|700 billion dollar plan questioned] it is the largest intervention since the 1930's (around the great depression) People are saying it will be stopped before a repeat of the great depression happens what profe do they have? the program requires anywhere from 700- 800 BILLION dollars which would be broken down to 50 billion each congress would need to raise the federal debt level in order to barrow the money needed "the cost to taxpayers will be replenished as the economy recovers over time." president Bush we need to fix the problem before it gets even worse possibly costing us more money

http://www.msnbc.msn.com/id/26780312/ the plan would require the purchasing of private mortgages and government ensured mortgages The plan consists of two parts the first part is the purchasing of private-label mortgages (those written by wall street) this part would be the larger part and would require congresses approval the second part is the purchasing of government back upped mortgages this would be the smaller part of the plan and would NOT require approval by the congress they are currnetly trying to deal with the stress and risk in the market most the stress comes from the real estate why would the stress come from the real estate not the failed mortgages? the election is contributing greatly because it is near impossible to convince law makers to quickly approve a plan and most of congress plans to leave to campaign for the november election