Internet Anthropologist Think Tank: Bail out has lobbiest spinning in background

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    Friday, September 26, 2008

    Bail out has lobbiest spinning in background

    Photo by Gerald: CR 2008

    STORY: Bail out planning so far: Washington Post:

    Banks are objecting to some proposals.
    Banks got USA into this, I don't give a damn
    what they object too.

    Republicans holding out for more Taxpayer
    and consumer protection.
    Sen. John McCain shows Guts in face of Banking power.

    George Mad.

    "Frank said the primary remaining point of contention between Democrats and Republicans is a proposal to give bankruptcy judges new power to modify mortgages for troubled homeowners, an idea that is widely viewed as a bargaining chip. Democratic presidential candidate Sen. Barack Obama (Ill.) has said the provision, which is fiercely opposed by the banking industry, should not be included in the bill"

    Barack is concerned with what the Banks want....


    Economists warned Friday afternoon, Sept. 26, that if Congress fails to act in time, there will be “bloodbath” on world markets. The warning followed a rebellion in President George W. Bush’s own Republican party which disrupted negotiations on the verge of approving the $700 billion package approved by the White House to save foundering financial institutions by buying bad debts.

    It was led by presidential candidate John McCain. Democratic leaders said the insertion of presidential politics had torpedoed seven days of negotiations.

    British prime minister Gordon Brown has applied for a share of the bail-out to rescue UK banks. 

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