TPMmuckraker Exclusive: House Dems' Bailout Plan No one need McCain to help do the final 2%.

[flpoljunkie]

TPMmuckraker Exclusive: House Dems' Bailout Plan

By Zachary Roth - September 24, 2008, 5:21PM

A source just sent us a copy of the working draft of the bailout plan circulating, as of about two hours ago, in the House.

Based on our quick look, it includes a strong provision for congressional oversight, limits executive pay, and would allow bankruptcy judges to adjust mortgages in order to help homeowners, among other items. In other words, the major Democratic priorities.

Things have been changing so quickly on the Hill -- even before McCain's dramatic announcement -- that there's not telling what's occurred in the intervening period.

The source, who's a well-connected Democratic lobbyist, added in an email to TPMmuckraker that "the deal on the "bail out" is 98 percent done. Treasury has capitulated on almost every point. A draft is circulating on the Hill now. No one needs McCain to help do the remaining 2 percent."


http://tpmmuckraker.talkingpointsmemo.com/2008/09/tpmmuckraker_exclusive_house_d.php

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1. Kick

[LiberadorHugo]

2. You hear that McDouche?

Nobody needs you. Go take a nap.