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Democrat’s Counterproposal to Paulson Plan

September 26, 2008

Not a lot of talk of just what the Democrat’s counterproposal to the Paulson Plan was, rather the column inches and airtime seems devoted to the stalemate and the political gamesmanship going on. So, here’s a few points of what the Democrat’s counterproposal included (before Senator McNero showed up with his fiddle):

  • An ownership stake in the companies that are given bailout monies
  • Oversight of the money disbursement by a bipartisan commission-no free reign
  • $250 billion now
  • $100 billion in discretionary funds for emergency use
  • $350 billion readied for further disbursement upon request, only at Congress’ approval
  • Strictly limited severance packages for bailed our company executives
  • Profits from ownership stake come back to government to help pay for bailout

As you can see, this is far different than Paulson’s original plan, and isn’t nearly as scary (although any bailout on this level is scary).

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