Thursday, September 25, 2008

Bailout

"We've reached a fundamental agreement on a set of principles, one, for taxpayers, which is tremendously important," Senator Christopher Dodd said. "We're very
confident we can act expeditiously."

At least one prominent Republican says matters still aren't settled.

"House Republicans have not agreed to any plan at this point," said John Boehner, R-Ohio, minority leader.

Instead of receiving the entire sum at one time, Treasury will receive the money in installments, with $250 billion in bailout funds available immediately, the Wall Street Journal reported. Lawmakers also said the deal calls for the government to receive stock warrants of participating companies, the Journal said.






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