The ‘predators’ come to an agreement

Paulson's horrible plan looks to be near competition (see this, this and this). According to the New York Times report, the final version should include the following:

…pay limits for some executives whose firms seek help, aides said. And it requires the government to use its new role as owner of distressed mortgage-backed securities to make more aggressive efforts to prevent home foreclosures.

In some cases, the government would receive an equity stake in companies that seek aid, allowing taxpayers to profit should the rescue plan work and the private firms flourish in the months and years ahead.

The White House also agreed to strict oversight of the program by a Congressional panel and conflict-of-interest rules for firms hired by the Treasury to help run the program.

The revised Plan may make it to the House floor on Monday (9.29.2008) and the Senate on Wednesday (10.1.2008).

The coup is nearly complete.

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