Economic Crisis Tuesday Roundup

Tuesday saw a contentious hearing in the Senate on the Administration bail-out plan, and House negotiator Barney Frank continues to say that a deal including what Democrats say are necessary additions and modifications is still on track. But it's not only Democrats who don't want to be rushed into a bad deal. The Bush administration attempt to scare Republican House members into solid support failed miserably, as they roundly rejected the intervention of VP Cheney.

The NY Times reported that Barack Obama outlined four conditions for the bail-out plan: a payback plan for taxpayers if the bailout succeeds; a bipartisan board to oversee the bailout; limits on any federal money going to compensate Wall Street executives; and aid to homeowners who are struggling to pay their mortgages.

Here's a link to some video from Obama's press conference Tuesday, as well as the text of what he said.