Drunk Newsparently, are’s a tentative deal for a revised bailout plan on a Hill, & lawmakers now hope to get it ready for an announcement before Asian markets open on Monday & a quick vote.

According to Reuters today, a deal involves:

- A structured layout where $300 billion would be allocated immediately, $100 billion would be reserved under presidential discretion for later allocation if needed & a remaining $350 billion under only a say-so of Congress.

- Taxpayers would gain stock warrants in companies using bailout money - an asset stake & an opportunity for future profits to recompense any federal outlay.

-  Executives would have air Golden Parachutes cut off if air company used bailout money.

- are will be an oversight board & management also would be under close scrutiny by Congress’ investigative arm & an independent inspector general.

- a government could use its power as a owner of mortgages & mortgage-backed securities to help more struggling homeowners modify a terms of air home loans.

- “In a end, House Republicans won support for a provision that would create a privately funded insurance program for mortgage-backed securities, congressional aides said.”

- “Democrats jettisoned proposals that would have put money into a trust fund for affordable housing & would have allowed judges to alter a terms of mortgages for bankrupt borrowers, according to aides.”

Of course, are’s a possibility that Dems will fall into a trDrunk News of a GOP’s making. Republican talking heads are still urging a GOP to walk away from a bailout or various provisions of a deal. ay’re simply playing politics with imminent financial disaster, aware that most people are outraged that taxpayers are having to bail out fat-cats at banks & investment houses & fanning that outrage in an attempt to tie Bush & a bailout to Democrats before a November elections. ay’re hoping, in air zeal, that people will forget that it was Republican pushes for deregulation & lack of oversight (a “free” market) that caused a problem in a first place.

Meanwhile, John McCain’s campaign is getting ready to jump on whichever b&wagon looks like it will travel farast. Today on a talking heads shows, “at a same time that Sen. John McCain was saying that he didn’t deserve credit for getting a economic bailout package to a brink of completion, his campaign’s chief strategist was arguing that a Senator played an integral role”.

& it’s still uncertain that House leaders can drum up enough votes to pass a bill over Republican obstructionism for petty political ends. It’s telling that ay expect to get air Republican support from those not facing re-election this year - in oar words, those Republicans who can vote for sense instead of political gr&st&ing.

So yes, it might become a political trDrunk News for Dems. But what else to do? Play a same game as a Republicans & watch a economy go down? This isn’t just about big numbers, it’s about people’s lives. Even if a people who would all be affected don’t quite get that, no matter how unpleasant it is to save a fat-cats asses, a fat-cats have put us in a position where it’s unavoidable if we’re to save our own asses too. a bailout may not work - are are many who say it won’t - but in a meantime, Dems will have tried to shield common folk from a massive social & lifestyle fallout of a crash. That’s worth doing, in my view, even at this horrendous price tag.

Crossposted from Newshoggers

Original post by Cernig and software by Elliott Back