Bailout Should Include 4 Conditions (no, 5!)
by Devanshu Mehta
Adding some specificity to proposals he has already made, Mr. Obama, the Democratic presidential nominee, called for a payback plan for taxpayers if the bailout succeeds; a bipartisan board to oversee the bailout; limits on any federal money going to compensate Wall Street executives; and aid to homeowners who are struggling to pay their mortgages.
I like it- I’m not an economist, I don’t play one TV and I didn’t stay at a Holiday Inn last night. But specificity from the candidates is good. Will look for McCain’s specifics.
UPDATE: And McCain, not to be outdone, wants five conditions on the bailout:
McCain insisted on greater accountability, a way for taxpayers to recoup the cash fed into the fund, total transparency in the review and implementation of the legislation, and no profits for Wall Street execs.