September 22nd, 2008
09:05 AM ET
11 years ago

CNN Money: Congress scrambles on rescue bill

President Bush is urging Congress to pass the rescue plan as is.

President Bush is urging Congress to pass the rescue plan as is.

NEW YORK (CNNMoney.com) - The Bush administration's proposed $700 billion financial rescue took fuller shape on Monday as lawmakers debated whether to add provisions to protect taxpayers while banks and other companies called for expanding its scope beyond mortgages.

Democrats want the measure to include independent oversight, homeowner protections and limits on executive compensation.

"We will not simply hand over a $700 billion blank check to Wall Street and hope for a better outcome," House Speaker Nancy Pelosi, D-Calif., said Sunday.

Watch: What's the latest on the bank bailout plan?

Meanwhile, Treasury Secretary Henry Paulson called on Congress to move swiftly. "We need this to be clean and quick," Paulson said.

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Filed under: CNNMoney.com • Congress
soundoff (176 Responses)
  1. rice, bryan

    does anyone else think bush always has the look of a deer in the headlights? there really isn't a whole lot going on up there is there? i think if you stop and listen you might hear the voices in his head " screw the little guys"!!!!

    September 22, 2008 02:06 pm at 2:06 pm |
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