The Economic Bailout: An Analysis of the Economic Emergency Stabilization Act (PDF; 164 KB)
Source: CCH/Wolters Kluwer
From press release:

CCH, part of Wolters Kluwer Law & Business, has published a white paper, The Economic Bailout: An Analysis of the Economic Emergency Stabilization Act, by CCH banking law analysts Katalina M. Bianco, JD and John M. Pachkowski, JD. Wolters Kluwer Law & Business is a leading provider of research information and software solutions in key specialty areas for legal and business professionals (business.cch.com).

President Bush signed the Emergency Economic Stabilization Act of 2008, or EESA, into law within two hours of its final passage in the House of Representatives on October 3, 2008, and declared that the legislation was “essential to helping America’s economy weather this financial crisis.”

The law provides the Treasury Department up to $700 billion to purchase, manage and sell assets held by financial institutions that are considered to be “troubled” or “toxic,” under a program known as the Troubled Asset Relief Program, or TARP.

The CCH white paper includes a compelling timeline, counting down key events from the takeover of Fannie Mae and Freddie Mac on September 7 to the original “bailout” plan by Treasury Secretary Paulson put forward on September 23.

The original plan was extensively elaborated and modified as it was cast into legislative language, then rejected by the House on September 29 and finally, after being packaged with an array of tax provisions and a raising of the FDIC insurance limits, was passed into law.

This entry was posted on Monday, October 6th, 2008 at 11:04 pm and is filed under Business and economics, Government and politics. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.