You CANNOT have another advance on your allowance.
FOCUS | Bush Requests up to $1 Trillion in Bailouts
Edmund L. Andrews, The New York Times: "The Bush administration, moving to
prevent an economic cataclysm, urged Congress on Friday to grant it
far-reaching emergency powers to buy hundreds of billions of dollars in
distressed mortgages despite many unknowns about how the plan would work.
Henry M. Paulson Jr., the Treasury secretary, made it clear that the
upfront cost of the rescue proposal could easily be $500 billion, and
outside experts predicted that it could reach $1 trillion. The outlines of
the plan, described in conference calls to lawmakers on Friday, include
buying assets only from United States financial institutions but not
hedge funds and hiring outside advisers who would work for the Treasury,
rather than creating a separate agency. Democratic leaders immediately
pledged to work closely with Mr. Paulson to pass a plan in the next week,
but they also demanded that the measure include relief for deeply indebted
homeowners, not just for banks and Wall Street firms."
FOCUS | Bush Requests up to $1 Trillion in Bailouts
Edmund L. Andrews, The New York Times: "The Bush administration, moving to
prevent an economic cataclysm, urged Congress on Friday to grant it
far-reaching emergency powers to buy hundreds of billions of dollars in
distressed mortgages despite many unknowns about how the plan would work.
Henry M. Paulson Jr., the Treasury secretary, made it clear that the
upfront cost of the rescue proposal could easily be $500 billion, and
outside experts predicted that it could reach $1 trillion. The outlines of
the plan, described in conference calls to lawmakers on Friday, include
buying assets only from United States financial institutions but not
hedge funds and hiring outside advisers who would work for the Treasury,
rather than creating a separate agency. Democratic leaders immediately
pledged to work closely with Mr. Paulson to pass a plan in the next week,
but they also demanded that the measure include relief for deeply indebted
homeowners, not just for banks and Wall Street firms."