The Emergency Economic Stabilization Act 2008
A law authorizing the US Secretary of the Treasury to spend up to US$700 billion to purchase distressed assets, especially mortgage-backed securities, from the nation's banks—enacated on 3rd October 2008.
For an overiew and relevant links see Wikipedia: The Emergency Economic Stabilization Act 2008.
PAGE NAVIGATOR(Help)
-
The Global Financial Crisis »The Global Financial Crisis
▲
How should the US and other governments respond? »How should the US and other governments respond?
▲
Measures to alleviate the immediate symptoms? »Measures to alleviate the immediate symptoms?
■
The Emergency Economic Stabilization Act 2008
●
Treasury Secretary has capital injection for stock option »Treasury Secretary has capital injection for stock option
●
Contain the economic impact of the credit crunch »Contain the economic impact of the credit crunch
●
Relieve the immediate credit crunch »Relieve the immediate credit crunch
●
Abandoning free market principles »Abandoning free market principles
●
Compounds $53 trillion US deficit »Compounds $53 trillion US deficit
●
Doesn't punish bankers for mistakes »Doesn't punish bankers for mistakes
●
Insufficient information available to make sound policy decision »Insufficient information available to make sound policy decision
●
Involved extra $100bn of irrelevant sweetners »Involved extra $100bn of irrelevant sweetners
●
Moral hazard »Moral hazard
●
Printing more money just devalues the USD more »Printing more money just devalues the USD more
●
Transfers a mass of toxic assets from banks to the government »Transfers a mass of toxic assets from banks to the government
+Commentaar (0)
+Citaten (0)
+About