TARP’S got a new name! (EESA)
This just in: House Rejects $700 Billion Bailout Bill
“The House of Representatives failed to pass a $700 billion bill to purchase troubled mortgage assets from financial institutions as two-thirds of Republicans voted against the bill and Democrats could not muster enough support to push it over the top. The final vote was 205 for passage and 228 against the bill. A close vote on the Bush administration plan was expected. However, the measure is very unpopular back home with constituents and lawmakers were reluctant to vote for such a huge package that critics painted as a bailout for Wall Street firms and banks that profited and later got into trouble because of reckless subprime mortgage lending. The Senate was expected to pass the Emergency Economic Stabilization Act if approved by the House.” … and here I was getting ready to fly back to Washingston DC an pick up MY $21,959.42 RESCUE check !
