User 228141

No Wonder the $700 Billion Bailout 'Deal' Failed

The dem leaders have added so many poison pills to this, no wonder the patient died before the vote. Weather you belived the "BUSH" plan is the right one or not, it is the democrats that are causing all the problems. You would think the news services or those clowns on CNBC would actually read the proposed legislation before they start throwing around blame!!

No Wonder the $700 Billion Bailout 'Deal' Failed

Here’s the relevant part of the Dodd proposal:
TRANSFER OF A PERCENTAGE OF PROFITS.
DEPOSITS.Not less than 20 percent of any profit realized on the sale of each troubled asset purchased under this Act shall be deposited as provided in paragraph (2).
USE OF DEPOSITS.Of the amount referred to in paragraph (1)
65 percent shall be deposited into the Housing Trust Fund established under section 1338 of the Federal Housing Enterprises Regulatory Reform Act of 1992 (12 U.S.C. 4568); and
35 percent shall be deposited into the Capital Magnet Fund established under section 1339 of that Act (12 U.S.C. 4569).
REMAINDER DEPOSITED IN THE TREASURY.All amounts remaining after payments under paragraph (1) shall be paid into the General Fund of the Treasury for reduction of the public debt.

No Wonder the $700 Billion Bailout 'Deal' Failed

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