Friday, September 26, 2008

Lawmakers Confident that a Resolution is in Sight

An article published this afternoon by The Wall Street Journal captures a sense of urgency on Capitol Hill as lawmakers scramble to find a bipartisan solution to the ongoing financial meltdown. President Bush recently issued a press statement citing “disagreement” among one of the chief reasons why a final resolution has not yet been released to the public. While members of the Democratic Party attempt to work provisions they believe will protect taxpayers by imposing limits on executive pay for companies participating in the bailout plan and creating an oversight board to regulate the bailout itself, Republican lawmakers are fearful that the plan introduced by the Bush administration relies too heavily on taxpayer funding. Nevertheless, all party members involved agree that a bailout deal must be reached quickly in order to aid financial institutions, individuals and communities alike.

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