Monday, September 22, 2008

Tensions mount over bail-out

At 5 pm Nancy Pelosi, the speaker of the House of Representatives, issued a statement that said: “Congress will respond to the financial markets crisis by taking action this week in a bipartisan manner.” But it added “we will not simply hand over a $700bn blank cheque to Wall Street.” Democrats would insist on “independent oversight, protections for homeowners and constraints on excessive executive compensation.”

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