Newswire: BofA repays $45B in government bailout funds

CHARLOTTE, N.C. (AP) — Bank of America says it has repaid the entire $45 billion it owes U.S. taxpayers as part of the Troubled Asset Relief Program.

Bank of America funded the repayment through a combination of cash on hand and the sale of $19.29 billion of securities that would convert into common stock. The stock increase remains subject to shareholder approval.

source:

Heath Care breakthrough: Sen. Jay Rockefeller (D-W.Va.) said that he was happy with where the talks had gone.
“I’ve got a smile on my face. I don’t smile naturally,” he said.

Senate negotiators emerged from a full day of meetings Tuesday saying they had made genuine progress toward a deal on health care reform.

They declined to outline the specifics of the agreement, but said that the measures they had been discussing will be sent to the Congressional Budget Office for cost estimates. Once the estimates are returned, the final deal will be put together.

“We have made a lot of progress. There’s a lot of agreement. We have decided to take the next step and that is to ask the CBO to score what we’ve been discussing,” said Sen. Tom Carper (D-Del.), one of five conservative Democrats negotiating with five liberals.

The discussion has focused on abandoning or greatly narrowing the public health insurance option. In exchange, people 55-64 would be able to buy in to Medicare and Medicaid eligibility would be expanded to people within 150 percent of the federal poverty line. And people within 300 percent of poverty would be eligible for a program pushed by Sen. Maria Cantwell (D-Wash.) modeled on her state’s Basic Health. Cantwell is not one of the ten in the meetings but has stopped by to brief negotiators.

Senators, after the meeting, would not confirm which elements of the discussion were sent to CBO. Much will depend on the results of the CBO analysis.

Sen. Jay Rockefeller (D-W.Va.), one of the liberal members in negotiations, said that he was happy with where the talks had gone.

“I’ve got a smile on my face. I don’t smile naturally,” he said.

source:

Reid: “about access to health care, not abortion.”

WASHINGTON (AP) — The Senate has rejected an effort to stiffen abortion restrictions in the health care bill.

The vote was 54 to 45.

Democratic Sen. Ben Nelson of Nebraska and Republican Sen. Orrin Hatch of Utah wanted to ban any insurance plan that gets taxpayer dollars from offering abortion coverage. The stronger restrictions mirrored provisions in the House-passed health care bill.

source:

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3 Comments

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3 responses to “Newswire: BofA repays $45B in government bailout funds

  1. uhhh, yea!

    I think… maybe?

    • audiegrl

      It sounds good. So far. That’s the problem with the new 24/7 news cycle. The pundits and reporters don’t take time to understand the developments and the facts. Instead, they take a quick, sliver of truth, and make up the rest with speculation. Half the time, they don’t have any better understanding than the people they are reporting the news to. Of course, what they don’t know, they just make up. LOL 😉

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