As congressional leaders work furiously to hash out a bipartisan counterproposal to the Bush administration’s $700 billion financial bailout plan, there’s increasing consensus that the plan should also contain limits on executive pay and greater oversight of the Treasury Dept.
But a Democratic push to include language empowering bankruptcy judges to rewrite the terms of troubled mortgages, thus allowing an estimated 600,000 homeowners to remain in their homes, is likely to be left out, The Associated Press reported this morning:
Democrats are pushing to allow bankruptcy judges to rewrite mortgages to ease the burden on consumers who are facing foreclosure - a nonstarter for Republicans.
Democrats acknowledge privately that the provision will almost certainly be dropped in the interest of a bipartisan deal. Obama told reporters it’s “probably something that we shouldn’t try to do in this piece of legislation.”
Right. Why would this bill include something so tangential as a foreclosure rescue? After all — as Mary points out (and the White House concedes) — it’s only the root of the problem.
$1.3 trillion in federal spending unaccounted for, report finds
Despite calls for independent bodies to keep government accountable, the Sunlight Foundation’s most recent Clearspending report has found the federal
$1.89 billion given to states to fight HIV
The federal government Monday announced more than $1.89 billion in funding to states to fight the HIV epidemic with access to care and with more cash for the failing AIDS Drug Assistance Program. According to an HHS press release , $813 million of that money will go directly to the ADAP programming. An additional $8,386,340 will be issued as a supplement to 36 states and territories currently facing a litany of unmet needs and access issues.
1 Brigade and 1 Battalion
ISTANBUL – It’s 10 p.m. in the lowest level of the Istanbul airport. In 20 minutes I’ll be allowed to board my plane to Kabul, bringing me to the
1. Brian Schweitzer
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#1 in Conspiracy Theories
Andrew Young’s tell-all biography of John Edwards, hitting shelves next week, is surging in one Amazon.com category in particular. #1 in Conspiracy
$1 Million for Toomey
Pat Toomey, the former Club for Growth president and leading Republican candidate in Pennsylvania’s 2010 Senate race, has announced a $1 million haul in the
$1 Trillion for Fannie and Freddie?
That is the worst-case scenario, according to Egan-Jones Ratings Co., quoted in a Bloomberg article making the rounds. The agency says that if home prices
$1.3 Million for Brown
The GOP’s candidate in the Massachusetts special election raised more than one million dollars -- double the goal -- in a 24-hour moneybomb on the Ron Paul
Ten Loopholes That Can’t Make It Into FinReg
Dan Pfeiffer, the White House communications director, wrote a blog post that lists the loopholes lobbyists most want inserted into Sen. Chris Dodd’s (D-Conn.)
Bachmann uncomfortable over earmarks ban
Republicans appear to have boxed themselves into a corner with their portrayal of earmarks as wasteful spending, as many of them have backed a moratorium on
Troubled mine holds hope for U.S. rare earth industry
China currently controls 97 percent of the world’s rare earth production. The Mountain Pass Mine could change that -- if it can overcome serious environmental concerns.