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Bailout

NEWS
By JIM WOODARD / Creators Syndicate | December 29, 2008
Real estate organizations are putting more pressure on federal lawmakers to take stronger and decisive action to ease problems in the housing industry soon, even during the transition period between the outgoing administration of President George W. Bush and that of president-elect Barack Obama. Several leading groups are making proposals and pressing legislators to take action, including the National Association of Realtors. A recent NAR survey found that nine out of 10 homeowners believe owning a home is still the best long-term investment they can make.
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NEWS
October 3, 2008
http://www.rules.house.gov/110/text/110_hr4221_text.pdf Above is a link to the 442-page Senate approved financial markets bill as posted on the House Committee on Rules Web site. This is the base text under consideration. A vote by the House is expected Friday.
NEWS
October 3, 2008
WASHINGTON - Rep. Shelley Moore Capito, R-W.Va., released the following statement Friday after voting against the financial bailout bill: "While we've seen some key adjustments around the edges, this is fundamentally the same bill we considered on Monday," said Capito. "We're still talking about $700 billion dollars, and we're still talking about a process that lacks sufficient oversight and taxpayer protections for West Virginia families who pay their bills and play by the rules.
NEWS
October 3, 2008
WASHINGTON - U.S. Rep. Bill Shuster voted against the $700 billion federal mortgage bailout earlier this week, but announced late this morning that he would vote for the bill coming before the House this afternoon. The bill passed the House by a 263-171 margin and was promptly signed by President Bush. "My constituents feel the pain ... and the pain will manifest itself as job losses," Shuster, R-9th, said of the crisis in financial markets. The version the House is voting on is virtually the same as that passed by the U.S. Senate on Wednesday night, he said.
NEWS
November 14, 2008
WASHINGTON (AP) -- Senate Democrats will take up a bill to extend $25 billion in emergency loans to the auto industry on Monday and plan a test vote on it two days later, Senate Majority Leader Harry Reid said Friday as supporters scrambled for votes to break an expected filibuster by opponents. Supporters expect to need between a dozen and 15 GOP votes to attach the measure to a $6 billion bill the House passed in October that would extend jobless benefits. So far, however, they had only one firm commitment, from Sen. George Voinovich of Ohio, a state with several auto plants and manufacturers of auto supplies.
NEWS
September 25, 2008
WASHINGTON (AP) -- Key Republicans and Democrats reported agreement Thursday on an outline for a historic $700 billion bailout of the financial industry, but there was still resistance from rank-and-file House Republicans despite warnings of an impending panic. "I now expect we will, indeed, have a plan that can pass the House, pass the Senate, be signed by the president and bring a sense of certainty to this crisis that is sill roiling in the market," Sen. Bob Bennett, R-Utah, said as members of both parties emerged from a two-hour negotiating session.
NEWS
By DON AINES | October 8, 2008
WAYNESBORO, Pa. - The $700 billion mortgage bailout plan was passed by Congress and signed into law by President Bush last week, but Democratic House candidate Tony Barr told supporters Tuesday night that the government should not "confuse doing anything with doing the right thing. " "Basically, they took a big pile of money and threw it at the problem," Barr told a group of about 20 people during an open house meeting at the Democratic headquarters in Waynesboro. He criticized his opponent, incumbent U.S. Rep. Bill Shuster, R-Pa.
NEWS
By ANDREW SCHOTZ | September 23, 2008
As debate revved up over a $700 billion proposal to bail out financial institutions, some representatives from Maryland, West Virginia and Pennsylvania weren't convinced. "I think we're in a bit of a panic mode," U.S. Rep. Roscoe Bartlett, R-Md., said. He said the housing market is in trouble, but other aspects of the economy are in better shape. Bartlett said he's skeptical about supporting the proposal because he doesn't like the message of "If you fail, you'll get bailed out. " A plan for the government to intervene in a banking crisis emerged after a weekend of discussions among administration officials.
NEWS
October 3, 2008
WASHINGTON COUNTY -- The U.S. House of Representatives' decision to vote down a $700 billion Wall Street rescue plan drew mixed reaction Monday from local residents and elected officials.
NEWS
September 22, 2008
WASHINGTON (AP) -- Judges could rewrite mortgages to lower bankrupt homeowners' monthly payments as part of congressional Democrats' proposal for a $700 billion financial system bailout. Also, companies that unloaded their bad assets on the government in the massive rescue would have to limit their executives' pay packages and agree to revoke any bonuses awarded based on bogus claims, according to a draft of the plan obtained Monday by The Associated Press. The proposal by Sen. Chris Dodd, D-Conn.
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