For more on the financial crisis, check out GlobeSt.com’s Webinar , “Wall Street In a Freefall—The Winners and Losers.”

WASHINGTON, DC-One grueling weekend later, Congress has apparently put together a rescue bill that its various factions and caucuses can grudgingly accept. Early Sunday morning negotiators from both the Senate and the House unveiled a 110-page plan to weed out the toxic mortgage debt threatening to completely destabilize the financial system. The House of Representatives began debate on the bill Monday morning and is expected to vote on it some time today. Statements from various leaders in both parties suggest it has enough votes to pass; the wild card, of course, is that the premise of a Wall Street bailout is very controversial and widely despised by constituents–so there is still a chance it may not. Indeed, House Republicans were able to derail negotiations last week with a last minute proposal to substitute the crux of the original plan–a government entity that would purchase the bad debt–with an approach in which the government insures the debt instead.

The insurance provision is part of the newly negotiated bill, but does not require the Treasury Secretary to use it. Other changes to the administration’s original proposal include limits on executive pay of those institutions that participate and a requirement for the president to submit a plan within five years to recoup the losses if Treasury is unable to eek out a profit selling the securities that it purchases.

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