Lawmakers in conjunction with the Administration announced agreement on the basic principles of a $700 Billion bailout package to buy up the bad debt in the financial system.
While an a agreement was reached, few details were provided. Reuters.com reported:
Lawmakers declined to provide details of the plan, but it is expected to include limits on executive pay and strong oversight provisions.
Whether it is the right solution or not, experts will say that this problem is the result of factors that span over 20 years. Apparently, Congress and the Administration have figured out the fix in about a week and a half.
Get ready for a wild ride… things are about to change. – Glenn