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A group of House conservatives are proposing
an alternative plan to rescue shaky financial institutions.


      The White House favors a 700-billion dollar bailout that has
been revised following negotiations with congressional Democrats.


      The plan the conservatives are offering is a package of tax
breaks and a new government-sponsored insurance program for
mortgage-backed securities. Banks, financial firms and other
investors holding toxic mortgage securities would pay premiums to
the Treasury to finance the insurance coverage. Institutions
holding higher-risk securities would require higher premiums.


      Virginia Congressman Eric Cantor, a Republican, says the
alternative plan would remove the burden of the bailout from
taxpayers and instead place it, over time, on Wall Street.

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A group of House conservatives are proposing
an alternative plan to rescue shaky financial institutions.


GOP conservatives present rescue alternative

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