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Sundries
...a sweatshop of moxie

Sunday, September 28, 2008

DEAL DONE

Breaking News: The government bailout deal has been cobbled together at last. Speaker Pelosi announced this overnight Saturday to Sunday at midnight EST.

Fortis, a Dutch-Belgian bank, is on the verge of collapse, and it threatened to be the first big bank to go under in light of the USA's economic woes. We'll see what happens now, but at first blush I say:

Thank GOD.

WASHINGTON (AP) - Congressional leaders and the Bush administration reached a tentative deal early Sunday on a landmark bailout of imperiled financial markets whose collapse could plunge the nation into a deep recession.

House Speaker Nancy Pelosi announced the $700 billion accord just after midnight but said it still has to be put on paper.

"We've still got more to do to finalize it, but I think we're there," said Treasury Secretary Henry Paulson, who also participated in the negotiations in the Capitol.

"We worked out everything," said Sen. Judd Gregg, R-N.H., the chief Senate Republican in the talks.

Congressional leaders hope to have the House vote on the measure Monday. A Senate vote would come later.

I'm just hoping that ACORN get bupkus. If they do, I'll be absolutely livid.

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