| Log In | Register Now
U.S. House Republican leader John Boehner was applauded by Republican leaders at a GOP meeting Friday as he reported about the progress of the opposition to the $700 billion bailout package which is currently being debated Politico reports.
The purpose of the bailout proposed by President Bush's administration is for the government to help financial institutions to begin providing credit again by buying up the mortgage assets which they have not been able to sell. Bush is asking Congress for up to $700 billion.
House Republicans are not convinced about the White House's bailout plan. They have not released an alternative bill yet, but they have offered a series of principles as an alternative.
On Friday, Boehner reportedly named deputy Roy Blunt as his chief negotiator after finding pressure to cut a deal in bailout talks, Reuters reports.
First Photos of Beyonce’s Baby Blue Ivy Carter Reignite Surrogacy Rumors [PHOTOS]
Diet Soda: Research Sparks Debate on Risks of Heart Disease, Stroke
Free Edition
TAKE A TOURWe value your privacy. Your email address will not be shared.
