Financial Bailout: Deal hammered out?
By Bill Allison Sep 28 2008 5:49 a.m. 2 commentsThat's what a series of members are saying on a press conference I happened to tune into a few moments ago -- there's an agreement, but details have to be worked out (including getting it all down on paper).
Senate Majority Leader Harry Reid, D-Nev., cited Sen. Max Baucus, D-Mont., Sen. Kent Conrad, D-N.D., and Sen. Charles Schumer, D-N.Y., as being critical to the negotiations, along with Sen. Christopher Dodd, D-Conn., chair of the Senate Finance Committee.
The House Republican negotiator, Rep. Roy Blunt, on now, cited Rep. John Boehner, R-Ohio and Rep. Eric Cantor, R-Va.
Dodd, who followed blunt, cited Rep. Barney Frank, D-Mass., and Reid.
Like Dodd, Conrad was a "friend of Angelo," and got a sweetheart mortgage deal from Countrywide Financial. Over his career, Conrad has gotten $2,370,437 from the finance, insurance and real estate sector, according to our friends at the Center for Responsive Politics. That's 18.6 percent of the $12,722,554 he's raised over his career. Among his top donors are a few of firms at the center of the financial crisis: CitiGroup, Fannie Mae and Goldman Sachs.
Baucus ranks 11th among active lawmakers in contributions from the finance, insurance and real estate sectors, having raised $4,491,183 from employees, their immediate family members, and PACs of organizations in that sector. That's 18.7 percent of the $24,068,409 he's taken in overall. His top donor list reads like a roster of business section headlines of firms in the midst of the financial crisis: employees and PACs of American International Group, Goldman Sachs, J.P. Morgan Chase & Co., CitiGroup, Morgan Stanley and Bank of America have been among his most generous donors.
According to his most recent financial disclosure form, Baucus had a diversified portfolio, with most of his individual holdings falling in a range between $1,001 and $15,000; among the firms he invested in were J.P. Morgan Chase and Lehman Brothers Holdings.
Like Baucus, Schumer is a top recipient of money from the finance, insurance and real estate sector, ranking 6th, just behind Dodd, with $12,795,946 in contributions, or 27.6 percent of the $46,362,049 he's raised over his career. Schumer's nine most career donors all figure in the current turmoil: Goldman Sachs, CitiGroup, Morgan Stanley, J.P. Morgan Chase & Co., Bear Stearns, Merrill Lynch, UBS AG, Credit Suisse Group and Lehman Brothers. Schumer's also gotten substantial support from employees, their family members and PACs of American International Group.
Schumer's recent financial disclosure form showed that he owned stock in Fannie Mae (between $2,002 and $30,000 worth).
...We'll take a look at the House Republicans tomorrow morning...
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[...] ← Financial Bailout: Deal hammered out? [...]
Something better be worked out soon or it's going to get ugly , fast.