U.S. lawmakers said they made a breakthrough in talks on a $700 billion plan to revive the credit markets and expect to announce an agreement on legislation later today.
Negotiators resolved ``our differences so we can go forward with a package to stabilize the market,'' House Speaker Nancy Pelosi told reporters when talks at the Capitol ended after midnight Washington time. Lawmakers will review a written version of the plan later today, she said. The House may vote tomorrow.
Looks like the stage has been set for tommorow to see how the stock market/ world markets react to the new plan.
Failure is not an option at this point...Its do or die .pray for the best.
Somehow I think that all of us little people are getting a giant shaft right now while Wall Street and Washington laugh at us under their breath.
Your right. Failure is not an options. Hopefully the deal is all around good.
I'd rather go to Vegas and bet on red. Of course, I'd rather do that no matter what DC is doing.
While I am not happy that we are bailing out lenders who gave loans to anyone that was breathing and got themselves into this mess...I am in favor of the bail out. To let the lender die a slow death would mean less money being loaned out to people who want to buy commodities (i.e. cars) and if those commodities aren't being bought then the general public that works to make these commodities get laid off and then we have less people putting money into the economy. It's a vicious circle and I do think banks lending money (albeit to people who can PAY it back over time) makes the world go round. Just my opinion.
Currently we are being held hostage by washington and our leaders....DOh! did I say that?
This shall be a very interesting week to say the least.
as they are unvailing the plan there is a 2 percent spike in the middle east markets....I think we will be OK. ( gritting my teeth)