Credit Card Report
Financial News Made Easy

What started as a fairly simple three-page proposal giving the Treasury Secretary unchecked power to orchestrate a bailout of the country’s financial system ended up as a complex rescue package, with enhanced congressional oversight, some added protections for taxpayers and a slap on the wrist to highly paid, underperforming executives.

President Bush went before the nation last night to argue for his administration’s proposed $700 billion bailout of the financial system, which has been met with skepticism by some in Congress and the American public.