Insiders Perspective: Embarrassing Congressional Reaction to an Originally Dangerous Bailout Plan
MYM Series: Wall Street Bailout Explanation 4 of 4
We have learned today that the House of Representatives passed the Emergency Economic Stabilization Act of 2008 by a vote of 263-171. Because the Senate passed the same version just days prior, the bill is now ready to be sent to the President for his signature. So [...]
What Is Actually Included In the Bailout Legislation?
MYM Series: Wall Street Bailout Explanation 3 of 4
As you have probably heard, the U.S. Senate passed an amended version of the bailout package late on Wednesday, October 2. Mainly, changes were made to the bill in order to garner enough Republican votes in the House, where a similar package was shot down earlier [...]
MYM Series: Wall Street Bailout Explanation 2 of 4
Understanding the Crisis: Timeline of Failure & Who’s at Fault?
How did we ever get to the point of needing $700 billion dollars from the Federal Government? Were the regulators asleep at the switch or were they simply out smarted by the markets? Did greed win over principles on Wall Street? These are great questions [...]
MYM Series: Wall Street Bailout Explanation 1 of 4
You’ve heard the news; Wall Street’s biggest financial institutions are in need of a major financial Government backed bailout in order to stay afloat. What does this actually mean? How will it affect me? Why should the taxpayers pay for the Wall Streets errors? What are the pros and cons of such a bailout?
My day [...]
Reaction to Proposed Market Bailout
The grim reality facing our financial markets has finally hit a low that even President Bush—who has a “let the market police itself” ideology—has decided it’s time to intervene. The cost to taxpayers is going to be enormous, possibly $500 billion. But for those hung up on this concept need to take a step back [...]
