Rep. Brad Sherman's alternative Bailout plan

[cal04]

New Democratic Bailout Proposal
By Zachary Roth
http://tpmmuckraker.talkingpointsmemo.com/2008/09/new_democratic_bailout_proposa.php

There are various plans being circulated right now by Hill Democrats, laying out alternative frameworks for a Wall Street bailout.

We just obtained one from Rep. Brad Sherman (D-CA), a member of the House Financial Services Committee. According to Sherman's press secretary, the congressman just presented this proposal at a meeting with other members.

Sherman's plan covers all of the major points that Democrats have been insisting on -- strong Congressional oversight of any agreement, limits on executive pay, protection for homeowners. It also adds some more provisions, including an economic stimulus, and a measure to make it easier and quicker for Congress to enact future corporate governance reform.

This morning, Rep. Sherman told The Hill, referring to the Bush administration's bailout proposal: "This is a bill for Wall Street, not a bill for Main Street."


link to the Hill article
http://thehill.com/leading-the-news/house-conservatives-want-changes-to-bailout-plan-2008-09-22.html

[Beaverhausen]

1. That's my representative