Current Event -1

My current event was on the financial rescue plan. The plan is expected to cost $700 billion dollars.The plan would also put in place restrictions on the executive compensation of the firms that receive help and calls for more government oversight of the program. It would also require the Treasury Department to help distressed homeowners as part of the package, including rewriting bad mortgages. The Senate Democrats' plan also calls for the creation of an emergency oversight board made up of the Federal Reserve, Federal Deposit Insurance Corp. and Securities and Exchange Commission, plus two outside experts appointed by Congress. It also calls for the secretary of the Treasury to make monthly reports to Congress. But people are still skeptical about the plan as the price of oil spiked and Dow Jones' Average went down.