Bill to save banks probably done

Posted Sep 28th 2008 6:26AM by Douglas McIntyre
Filed under: Deals, Politics, Financial Crisis

The bill to bailout the banking system though the process of the Treasury buying toxic mortgage assets from banks appears to be all but finished.

According to The Wall Street Journal, a deal to bailout U.S. financial markets has been agreed on and all that remains to be done is to commit the legislation to paper.

The most significant addition to the original bill appears to be "the legislation will expand the range of firms that can sell troubled assets to the government to include pension plans, local governments and community banks serving low- and middle-income families."

Douglas A. McIntyre is an editor at 247wallst.com.

Tags: bailout, inthenews, toxic mortgages, Treasury

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Reader Comments (Page 1 of 1)

9-28-2008 @ 8:31AM

mzhong8000 said...

these people just cost us $3,500 per year for the next ten years per american plus they just approved another spending bill for 750 billion just what when these is over total bill will be about 10 trillion dollars. there is all totals of 575 trillion in debt out there in the world.We americans should boycott this election.These drunken sailors don"t listen to the voters. the future of this country is over.

9-28-2008 @ 11:23AM

bmaddigan3 said...

WOE To them, ---->>> Wall St.

The sins (PRIDE & GREED) of the fathers,

Visited Upon the children (Us)

Coupled with a Lot

of 'SELF' Exalting & DECEPTIVE practices

= our Present financial, RED/Black HOLE...