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U.S. Senate to vote on bailout Wednesday

Espaço dedicado a todo o tipo de troca de impressões sobre os mercados financeiros e ao que possa condicionar o desempenho dos mesmos.

por marianonunes » 1/10/2008 13:07

Como estão a dizer na tv andam lá a fazer salsichas...

Já estão a adicionar coisas que nada tem a haver com o plano económico, coisas que vão até às energias alternativas e uma carrada de outras tretas.

Se votam a favor, podem dizer "O Ze Cebola votou a favor de 700 biliões para Wall St."

Se votam contra: "O Ze Cebola votou contra as energias renováveis"
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por acintra » 1/10/2008 13:00

Só sei que é ao final do dia.
Um abraço e bons negócios.

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por president » 1/10/2008 12:59

Bocciardi Escreveu:Alguém sabe para que horas está previstaa votação?

Obrigado



vote Wednesday night, Oct. 1, at 7:30 in hopes of bringing the bailout back to life.


mas também já li algures que era as 20h (ou seja 24h em Portugal)
Editado pela última vez por president em 1/10/2008 13:00, num total de 1 vez.
You're never too old to learn something stupid (;
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por Bocciardi » 1/10/2008 12:28

Alguém sabe para que horas está previstaa votação?

Obrigado
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por president » 1/10/2008 8:48

Só para acrescentar na noticia no BusinessWeek diz

http://www.businessweek.com/bwdaily/dnflash/content/sep2008/db20080930_216404.htm?chan=top+news_top+news+index+-+temp_top+story

Still, the vote isn't 100% certain to take place.
You're never too old to learn something stupid (;
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por acintra » 1/10/2008 7:23

Está tudo a contar com a aprovação de um 2º plano, mas se por acaso não é aprovado vai acontecer um descalabro. Atenção que o Senado até pode querer agitar ainda mais os mercados para poder aprovar um plano bastante mais leve numa 3ª ou 4ª tentaiva.
Um abraço e bons negócios.

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U.S. Senate to vote on bailout Wednesday

por Pata-Hari » 1/10/2008 6:41

Feedback acerca do novo voto (que eu pensava que era na Quinta!).

A fonte é o Internacional Herald Tribune:


U.S. Senate to vote on bailout Wednesday
By Carl Hulse and Robert Pear

Wednesday, October 1, 2008
WASHINGTON: Senate leaders scheduled a Wednesday vote on a $700 billion financial bailout package after agreeing to add tax breaks and a higher limit for insured bank deposits in a bid to attract enough votes to reverse a shocking defeat in the House and send legislation to President George W. Bush by the end of the week.

After a day of behind-the-scenes maneuvering, top lawmakers said the Senate proposal would include a tax package as well as a plan endorsed on Tuesday by both major presidential candidates and the Bush administration to raise government coverage for bank deposits.

"It has been determined, in our judgment, this is the best thing to move forward," said Senator Harry Reid, Democrat of Nevada and the majority leader, in announcing the surprise move. "This is good for the country."

The senators issued no details of their proposal and said none would be available until Wednesday. The lawmakers were gambling that the tax breaks for businesses and alternative energy would appeal to lawmakers who helped sink the measure in the House on Monday, without driving off Democrats who have opposed extending the tax incentives without offsetting spending cuts elsewhere.

Senator Christopher Dodd, Democrat of Connecticut and chairman of the Senate banking committee, said the Senate decided to move quickly, citing signs from some House members that they regretted their initial vote after the markets plunged in response.

"I think their will is coming back having heard from their constituents," Dodd said.

After the plunge in stock market that followed the rejection of the package on Monday, lawmakers described the experience as sobering and said it could enhance prospects for a revised plan. Some anxiety lifted on Tuesday, as the stock market regained more than half of the value it had lost in Monday's sell-off, with the Dow Jones industrial average up 485 points on the day, or 4.7 percent.

Still, there remained deep concern about credit markets, as the rate that banks charge one another shot higher to a record high by one widely used measure making borrowing more difficult. Bush joined the two major presidential candidates, Senators John McCain and Barack Obama, in calling for quick action to stabilize the markets and avoid what Bush characterized as the threat of "painful and lasting" damage to the economy.

On the morning after the sell-off on Wall Street, congressional offices reported a shift in angry calls from constituents, with some now demanding that lawmakers take some corrective action — a distinct change from the outpouring of public opposition that contributed to the defeat of the plan.
"I started hearing from a lot of people who lost money on their investments thanks to the big drop on Wall Street yesterday," said Representative Steven LaTourette, Republican of Ohio, who voted against the plan.
As they explored ways to tinker with the proposal in consultation with the Bush administration, all sides agreed any revisions would not change the underlying concept of granting the Treasury Department access to up to $700 billion to purchase — and eventually resell — troubled securities that were clogging the financial system.

It was a delicate balancing act for the architects of the proposal who had to be careful that in adding elements to entice new support they did not lose the support they already had.

"Obviously you don't want to do something to lose votes," said Senator Kent Conrad, Democrat of North Dakota, who was among Senate Democrats who huddled Tuesday to discuss possible alterations in the proposal.

House leaders were reviewing the new Senate approach and had no immediate reaction on whether they thought it could prevail. The Senate left the door open slightly to other additions to the bill, but other revisions would have to get the agreement of the full Senate, meaning major provisions such as new homeowner tax credits sought by the House would not be considered.

"Opening this up all over again to other things may doom it," Dodd cautioned.

The Senate tax bill would cost more than $100 billion and extend and expand many individual and business tax breaks, including tax credits for the production and use of renewable energy sources, like solar energy and wind power. The bill would also extend the business tax credit for research and development, expand the child tax credit, protect millions of families from the alternative minimum tax and provide tax relief to victims of recent floods, tornadoes and severe storms.

Members of the House and the Senate say the bill would create tens of thousands of jobs and reduce the nations' dependence on foreign oil. But the two chambers have been at odds over whether and how to offset the cost of extending the many tax breaks covered by the legislation. The major obstacle has been Representative Steny Hoyer of Maryland, the majority leader, and other centrist Democrats.

Senate and House leaders had been debating whether the Senate, where support for the proposal runs deep, should vote first to provide some momentum for a second vote across the Capital Rotunda. Some senators were leery of going on the record if the legislation could not prevail in the House, but others backed the idea of the Senate taking the lead.

"I would support the Senate going first, which we would be willing to do as early as tomorrow if that would make this process successful," Senator Hillary Rodham Clinton, Democrat of New York, said in a conference call on Tuesday.

With no new vote in the House even possible before lawmakers reconvene Thursday at noon, strategists for both parties spent Tuesday poring over tally sheets from Monday afternoon's 228-to-205 outcome, trying to identify lawmakers who could be persuaded to switch their votes.

But winning over some determined opponents was not going to be easy.

"It was one of the best votes of my career," said Representative Peter DeFazio of Oregon, leader of a group of liberal Democratic opponents of the Treasury plan who on Tuesday proposed a series of regulatory and legislative alternatives to the bailout plan.

But those Democratic opponents did say that they would be willing to back an increase to $250,000, from $100,000, in the amount of a bank deposit that would be insured by the U.S. government — an idea that on Tuesday gained fast currency as a consensus change in the initial plan.

Obama and McCain early Tuesday both embraced the deposit insurance proposal, sparking a bit of a political tiff over who deserved credit for initiating it. House Republicans claimed to have offered the insurance increase in weekend negotiations over the plan only to have it rejected.

Democrats said they had no recollection of that provision being brought up in the chaotic talks, but top Democratic congressional aides said the leadership was willing to add it to the bill and knew of no opposition. The chief uncertainty was whether it would significantly enhance the outlook for the legislation.

"Everybody is on board," said one top House aide who did not want to be identified when talking about internal deliberations. "The question is how many votes does it bring."

With the House in recess for the observance of Jewish religious holidays, lawmakers consulted via conference call on their ideas for improving the legislation. In the Senate, members who remained in Washington huddled behind closed doors, talked with the administration and took to the floor to press their case for enacting the plan while lamenting the House action.

"Some will feel very virtuous about having voted against Wall Street and then turn around and find their constituents, generally, paid a huge price for that vote," said Senator Robert Bennett, Republican of Utah, in exhorting his colleagues to "rise to the occasion" and pass the bill. "I have faith that the members of the House and the members of the Senate will ultimately recognize their responsibility and do the right thing."

Trying to calm the turbulent markets, Speaker Nancy Pelosi and Reid released a letter to Bush laying out their commitment to enacting a rescue bill.

"Working together, we are confident we will pass a responsible bill in the very near future," Pelosi and Reid said in the letter.

Senator Mitch McConnell , Republican of Kentucky, was even more emphatic. "This financial crisis is going to be dealt with by Congress, and it's going to be dealt with by Congress this week," McConnell told reporters.
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