Expense, Effect, How It Passed
President George W. Bush finalized the $700 billion bank bailout bill on October 3, 2008. The formal title ended up being the crisis Economic Stabilization Act of 2008.
Treasury Secretary Henry Paulson had expected Congress to accept a $700 billion bailout to get mortgage-backed securities that had been at risk of defaulting. In so doing, Paulson desired to simply just take these debts from the publications for the banking institutions, hedge funds, and retirement funds that held them. Read more “That which was the financial institution Bailout Bill? The Bailout Bill Was More Than Simply TARP”