WASHINGTON (Reuters) – Senate Democrats issued a counterproposal to the Treasury Department's $700 billion Wall Street bailout plan on Monday that would give the government a stake in firms unloading assets under the plan, and limit the pay of corporate executives involved. The Democrats also want to set up an oversight board that would include the chairmen of the Federal Reserve, Federal Deposit Insurance Corp and Securities and Exchange Commission to limit the Treasury's otherwise largely unfettered powers, according to a legislative proposal released by the office of U.S. Sen. Christopher Dodd, D-Connecticut, chairman of the Senate Banking Committee. According...
Read More...
[Source: Latest Articles - Posted by FreeAutoBlogger]