The decision on the $700 billion bail out maybe near as law makers worked through the night to workout the details of the proposal. The original proposal made made Treasury Secretary Henry Paulson did not make it far with law makes as they were afraid the bailout would only help indviduals and businesses on Wall Street.

Democratic Senator Chris Dodd who is also the Senate Banking Commitee Chairman the Chairman, said he wants to be sure there are provisions to ensure that tax payers aren’t going to be hit hard. In addition the senate democrats have also proposed a plan that would require the federal government to create “a systematic approach for preventing foreclosures and ensuring long-term, sustainable home ownership through loan modifications and the use of the HOPE for homeowners program.”

Today President Bush, John McCain, and Barack Obama will meet to discuss what should be done with the financial crisis, in hopes of giving the candidates insight on what this could mean for either canidates presidential plans following the election.

This entry was posted on Thursday, September 25th, 2008 at 11:56 am and is filed under Foreclosure. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.