The House of Representatives shot down the bailout plan Monday afternoon, with significant numbers in both parties voting against the plan. Two-thirds of Republicans voted against the bill, including Texas Rep. Mike Conaway. He talks with Greg about his decision and what he wants to see included in the next version of the plan.
On Tuesday, the House of Representatives defeated a proposed $700 billion Wall Street bailout plan by a vote of 228-205. In response, investors sold off in record fashion on Wall Street. So what is the significance of all that we saw on Monday? How can Congress forge a passable bill? And what happens if Congress does not act soon? We ask economist J.D. Foster of the Heritage Foundation.
Now that Congress has to try again on a bailout plan for Wall Street, they need to take the time to ask critical questions and find out exactly what the package would and would not do. So what are those questions? We ask Nicole Gelinas, Senior Fellow at the Manhattan Institute.
What are the latest details on the bailout proposal offered by the president? What is his reaction to his fellow Republicans refusing to cooperate? And did John McCain derail a deal on the bailout or is that just a Democratic deception? We discuss all those issues in the top news for Friday, September 26, 2008, and discuss the bailout.
More of Friday’s biggest news…should taxpayers or a controversial liberal group get revenues earned back from the bailout plan? Are House Republicans sandbagging the bill or holding firm on principle? And what’s the latest on tonight’s presidential debate? Listen here for all of the details.
Georgia Rep. Tom Price, a member of the House Financial Services Committee, joins us to discuss the latest developments in the standoff between House Republicans and the rest of Congress over the fate of the $700 billion bailout plan for Wall Street.
John McCain and Barack Obama will face off tonight in Mississippi on foreign policy issues and probably a lot of economic questions as well. What can we expect in terms of the content of the debate? Which candidate has the edge on foreign policy questions? And what intangible qualities will voters be looking for. We ask former longtime USA TODAY White House Correspondent Richard Benedetto.
Pressure is coming from every angle for House Republicans to compromise on a bailout plan for Wall Street. Democrats, the President and even Senate Republicans are ready to pass the $700 billion plan. So why are conservatives demanding no compromise and what are some of the Democratic strategies being employed in this debate? We ask Richard Viguerie, Chairman of conservativehq.com and author of “Conservatives Betrayed”.
While lawmakers deal with the very serious aspects of the financial crisis on Wall Street, the Capitol Steps are bringing some comic relief. This week Steps star Elaina Newport joins Greg and brings two economy-related parodies with her.
Are lawmakers on the brink of a compromise plan to bail out the financial industry? What are the key players saying about where we stand right now? What have John McCain and Barack Obama been saying today about the financial crisis and whether they should debate on Friday? We have all the latest details in an extended newscast on this pivotal day in the financial debate and just 40 days remaining until Election Day.