http://www.bloomberg.com/apps/news?pid=20601087&sid=aGgSVPAnogvQ&refer=home
Tertunda !
House Republicans Fragment Over Rescue Plan, Stalling Progress
By James Rowley and Alison Vekshin
Sept. 25 (Bloomberg) -- Congressional Republicans splintered over the proposed
$700 billion rescue of the U.S. financial system, imperiling prospects for an
agreement just hours after a bipartisan group of negotiators and the White
House said one was near.
A group of House Republicans led by Representative Eric Cantor of Virginia said
they wouldn't back a plan based on the approach outlined by Treasury Secretary
Henry Paulson and backed by President George W. Bush and Democratic leaders.
The Republican lawmakers instead offered a plan calling for Wall Street firms
to purchase insurance on mortgage-backed securities and advocating tax cuts and
relaxed regulations. Treasury officials had rejected a plan focusing on
insurance in favor of one that purchased troubled assets, Cantor said.
The snag sent Paulson back into late-night meeting on Capitol Hill with
lawmakers. ``We are sitting down where were we were at the end of day one,''
Senator Bob Corker, a Tennessee Republican, said as he headed into the meeting.
After the meeting, House Financial Services Committee Chairman Barney Frank and
his Senate Banking Committee Chairman Christopher Dodd said some progress in
negotiations had been made but said House Republicans needed to participate.
`Got to Decide'
``The president and his party have got to decide whether or not they want to be
a part of this,'' Dodd said.
Frank said ``if the House Republicans continue to reject the president's
approach then there is no bill.''
The White House issued a statement saying Bush still ``supports the core of
Secretary Paulson's plan,'' and Democrats and some Republicans said the
alternative proposal threatened to derail negotiations and delay passage of
legislation to calm financial markets.
The plan circulated by Cantor calls for a mortgage-backed security insurance
fund, rather than taxpayer-funded purchases of those securities. The plan calls
on the Treasury to design a system to charge premiums to mortgage-backed
security holders to finance this insurance, according to a fact sheet.
Republicans also seek to ``remove regulatory and tax barriers that are
currently blocking private capital formation.'' It also suggests that
regulators call on financial institutions to suspend dividends, along with
other steps to address liquidity problems.
`Wall Street Pays'
Cantor said the House Republican proposal ``does not leave the American
taxpayers with the bag and makes sure that Wall Street pays for this
recovery.''
Representative Jeb Hensarling of Texas said it shouldn't be ``Paulson's plan or
no plan.''
Dodd said support for Cantor's plan would have forced lawmakers to ``start all
over again.''
Republican presidential candidate John McCain and his Democratic counterpart
Barack Obama met with Bush, Paulson and congressional leaders at the White
House earlier in the day. Democrats blamed McCain for initiating the meeting,
which they said slowed down the pace of negotiations.
Dodd said on CNN that the Republican plan threatens to force negotiations to
begin anew. He said the White House meeting ``looked like a rescue plan for
John McCain for two hours, and it took us away from the work we were trying to
do today.''
Obama suggested the talks were damaged by politics.
``When you start injecting presidential politics into delicate negotiations you
can actually create more problems rather than less,'' Obama said on CNN.
McCain Comment
McCain's campaign said more negotiations were needed to draft legislation that
would pass Congress.
``There is not yet a majority of Democrats and Republicans who are willing to
vote yes for anything,'' said Steve Schmidt, a senior adviser to McCain's
campaign.
Kevin Smith, a spokesman for House Republican Leader John Boehner, said the
speed with which Dodd's plan was put together was designed ``to deny Senator
McCain a role in trying to craft a bipartisan solution.''
Cantor was told by Boehner to start working on an alternative two days ago,
Smith said. Pelosi was told today.
Michele Davis, a spokeswoman for Paulson, said, ``Secretary Paulson appreciates
the hard work by members on both sides of the aisle to address the threat we
face to our economy,'' and urged lawmakers to resolve their differences.
Paulson has not rejected any ideas, Davis said.
To contact the reporters on this story: James Rowley in Washington at [EMAIL
PROTECTED]; Alison Vekshin in Washington at [EMAIL PROTECTED] Last Updated:
September 25, 2008 22:21 EDT
--- On Thu, 9/25/08, Yanuar Mustofa <[EMAIL PROTECTED]> wrote:
From: Yanuar Mustofa <[EMAIL PROTECTED]>
Subject: [obrolan-bandar] Dow Fut udah minus 143
To: obrolan-bandar@yahoogroups.com
Date: Thursday, September 25, 2008, 11:00 PM
ada yg tau news nya.
apa bail outnya emang ga jadi lagi.
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