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Thursday, September 25, 2008

Report: Bailout to be in Installments

by Calculated Risk on 9/25/2008 02:40:00 PM

From the WSJ: Agreement Reached on Bailout Ahead of High-Level Meeting

... lawmakers agreed to legislative principles that would approve Treasury's request for the funds, but would break it into installments ... Treasury would have access to $250 billion immediately, with another $100 billion to follow if needed. Congress would be able to block the last installment through a vote if it was unhappy with the program.
This was one of the good suggestions that came from Congress (and probably all of you).