Congressional Leaders Push for Changes to Paulson Bailout Plan

Congressional Leaders Push for Changes to Paulson Bailout Plan

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House and Senate Democratic leaders huddled late yesterday to pour over new strategies, including the possibility of approving only a $150 billion initial installment for the government to purchase troubled assets from financial firms. Senator Charles Schumer of New York, the No. 3 Senate Democratic leader, said Paulson couldn't use the full $700 billion before the Bush administration left office on Jan. 20.

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So if congress sticks to their guns they are going to put in steps to keep Mr. Paulson from receiving a blank check up front but limiting the amount he can spend before Bush leaves Office.

Is Congress Going to stick to this or are they going through the motions to make it look good?

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