The draft of the Emergency Economic Stabilization Act of 2008, known among certain Republican leaders as a “crap sandwich,” is out. All 106 pages of it. I just read through it really really quickly, and my main takeaway is that was that it seems to require that Treasury take stock warrants (or senior debt if [...]
It will be very interesting to see the actual legislative language of this bailout agreement that negotiators from Congress and the Treasury Department announced that they reached early this morning. Because from what they’ve said so far I still can’t tell if Congress won or Treasury did. What Treasury initially asked for was $700 billion, [...]
