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Over the weekend, leaders in Washington reached a tentative agreement on a government rescue strategy for the fraught U.S. economy. After intense, partisan negotiations, the core proposal of Secretary of the Treasury Henry M. Paulson’s original $700 billion bailout plan remains largely intact. Originally conceived and announced...
After spending most of last week walking back his observation that the fundamentals of the economy were sound, McCain suddenly cut short his debate prep on Wednesday to announce he was "suspending" his campaign to fly back to Washington to rescue the Wall Street bailout negotiations, although he didn't...
But while the Bush Administration bailout plan does require an unprecedented outlay of taxpayer funds, White House officials say the cost of a crippled economy would be an even greater burden on average Americans. Treasury Secretary Henry Paulson believes that while the House Republican proposal would help moderate the current...
House Republicans haven't been dissuaded yet, however, and they added a new high-ranking negotiator to the talks Friday: Minority Whip Roy Blunt. As the Republicans' chief vote-counter in the House, Blunt comes to the table with a keen sense of what will and what won't pass...
One possibility that is likely to be discussed is a hybrid plan, in which Treasury would either have the authority, or possibly be required, to both buy some troubled assets and to insure them. One aide involved in the negotiations said that some estimates suggest such a plan would be...