Trying to figure out what the “bailout means” in regular terms? The power struggle in Washington gives us a clue: differing point of views. Here are the bullet points to review
“The Senate plan, led by Dodd, calls for five key provisions to be added to the Treasury proposal. They would:
- Give the government an equity stake in the companies it helps
- Change the bankruptcy law so that judges can modify the mortgages of filers’ primary residence
- Curb executive compensation on the companies participating in the bailout
- Impose oversight of the Treasury program
- Require the government to promote sustainable homeownership through loan modifications and use of the new HOPE for Homeowners Program on the mortgages underlying the assets it buys in the bailout.
The House version, drafted by House Financial Services Chairman Barney Frank, D-Mass., includes only the last three provisions.”
I like Dodds view. He is protecting the homeowner, being a watchdog of CEO take home
pay. (they pay for the lobbiest). Finally saying if the Government is paying for all this they should get a share. If they get a share there- and if it becomes profitable they could make some money and use it to help our country.
Over simplified it looks like the government is Daddy-and the teens went out charged up the credit cards and wrecked the car and want a new credit card and a new car. Dad is just saying he owns the car.
bail out bankruptcy Barney Frank CEOs CNN Dodd equity stake Government lobbiest Senate senate plan treasury proposal
