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700 billion bailout: How to spend $700 Billion - differences between McCain Plans and the Paulson Plan - 10/11/08 02:06 PM
It is not clear to me what Senator McCain is proposing with his plan to have the US Treasury purchase $300 billion of bad mortgages. The Paulson plan, passed recently as the Economic Emergency Stability Act, calls for $700 billion to be used to purchase bad mortgages.
The Paulson plan is short on details about the mechanics of purchasing the mortgages. Price, value, servicing, modification. These questions and more are unanswered, but the general idea is a reverse auction.
Banks would bid their mortgage pools down - who ever accepts the least price wins the bid. There are a lot of … (7 comments)
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700 billion bailout: Federal Bailout Delayed? - parties fight to add extra provisions - 09/22/08 06:59 AM
The $700 billion bailout debate began in earnest yesterday. There is much to consider - the amount of the bailout, the wisdom of risking tax payer money to bail out the market, the inclusion of foreign financial institutions, the details of what loans can be purchased, what form the purchasing agency will take, how long the agency will last, the need for and the type of tax payer safeguards.
What is being debated though is additional provisions.
This bill needs to be focused, quick, simple.
Presidential candidate Obama says, "Swift and unprecedented action to shore up Wall Street must come alongside … (10 comments)
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Richard Smith FHA VA Rural Development in TN GA
Chattanooga,
TN
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