ABC's Betsy Stark summarized the mood at the banking committee as "a tense five-hour affair" with many senators "skeptical if not downright outraged" by the $700bn request. NBC's Tom Costello found both Democrats and Republicans "reluctant to approve a blank check or give sweeping powers" to the Treasury. CBS' Bob Orr narrowed the protests to "fiscal conservatives in particular" who are "angry about being rushed to risk taxpayer money to clean up Wall Street's mess."
So reporters found the same set of four proposals to modify Paulson's plan that they found Monday. ABC's George Stephanopoulos ticked them off: regulatory oversight of the bailout fund; limits on lavish remuneration for bailed-out executives; relief for foreclosed homeowners; and federal stock ownership in rescued firms. "Democrats and Republicans alike agree that these conditions have to be met in some form for this bill to pass," Stephanopoulos declared. CBS' Orr reported that the lone objection to that list from the Bush Administration was the last, "an equity stake in the companies it helps."
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