President Bush has conceded to several changes to its rescue plan for the troubled banking industry, including agreeing to compensation limits for bank executives taking part in the plan and need for more help for homeowners facing foreclosure, according to Democrats.

Chairman of the House Financial Services Committee Rep. Barney Frank said the Treasury also agreed to Democrats' idea that the federal government should receive warrants to take an equity stake in financial firms in exchange for the government purchasing toxic assets from them.

The House released its draft plan for the bailout late this afternoon.

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categories: Understanding The Crisis

4:57 - September 22, 2008

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