For more on the financial crisis, check outGlobeSt.com's Webinar, "Wall Street In a Freefall—TheWinners and Losers."

WASHINGTON, DC-One grueling weekend later, Congress hasapparently put together a rescue bill that its various factions andcaucuses can grudgingly accept. Early Sunday morning negotiatorsfrom both the Senate and the House unveiled a 110-page plan to weedout the toxic mortgage debt threatening to completely destabilizethe financial system. The House of Representatives began debate onthe bill Monday morning and is expected to vote on it some timetoday. Statements from various leaders in both parties suggest ithas enough votes to pass; the wild card, of course, is that thepremise of a Wall Street bailout is very controversial and widelydespised by constituents--so there is still a chance it may not.Indeed, House Republicans were able to derail negotiations lastweek with a last minute proposal to substitute the crux of theoriginal plan--a government entity that would purchase the baddebt--with an approach in which the government insures the debtinstead.

The insurance provision is part of the newly negotiated bill,but does not require the Treasury Secretary to use it. Otherchanges to the administration's original proposal include limits onexecutive pay of those institutions that participate and arequirement for the president to submit a plan within five years torecoup the losses if Treasury is unable to eek out a profit sellingthe securities that it purchases.

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Erika Morphy

Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.