Treasury Disputes Democrat On Changes in Bailout

[WeDidIt]

Treasury Disputes Democrat On Changes in Bailout

The negotiations over a $700 billion Wall Street bailout plan took a new turn when the Treasury disputed a claim by a key Democrat that it had agreed to changes in the rescue proposal.

Barney Frank, chairman of the House of Representatives Financial Services Committee, told CNBC that the Bush administration has accepted changes to its bailout plan that would give the government a stake in institutions unloading assets under the plan.

But the Treasury, responding to the Frank interview, told CNBC that there was no such deal on equity stakes.

Frank, a Massachusetts Democrat, also said the administration has agreed that the plan should include more efforts to prevent home foreclosures and that an oversight board should be created to monitor the bailout.

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CNBC Link

I say, the Dems should play hardball on this one. They can get their version through the House. If the GOP blinkc on it, force them to filibuster and paint them as obstructionists on the economy. If they pass it and Bush vetoes, he's the villain causing a collapse of the economy.

The Dems are in the superior position on this one. They should play it for all it's worth.

[zbdent]

1. If a Republican filibuster is not televized, did it happen?

Remember, the media is not our friend ...

[ProgressiveEconomist]

2. K&R. Pelosi and Reid will control the fast-track RULES for debate and substitution

of alternatives to the WH draft bill. IMO, the likely outcome of the bailout debate will be shaped largely by the rules Democratic leaders of Congress set forth at the outset.

[Ichingcarpenter]

3. Naomi Klein said to call your reps and the Obama campaign for us

to be firm and progressive with our opposition to the Bush thievery bill