Specifically speaking, nobody asked for a bailout. Out of the options that were considered to revive the economy this bailout was considered the most effective way and hence it came into existence.
The bailout did not get through Congress, but no, the money would come from the US taxpayers. Update: The bailout did pass, and the money is coming from the Treasury and Federal Reserve. This could be argued to suggest the money is coming from the taxpayers.
Congress says 700 billion dollars, but no one knows for sure.
James Madison asked Congress to declare war on Britain in 1812.
i think it is false because im smart and i know it.
The auto bailout process actually started under the Bush administration. Some loans were made at end of Bush term. The auto companies first had to go through congress, a process that was underway BEFORE Obama came into office.
He asked congress to to put a tax on whiskey
Congress dictated certain terms but the Treasury is ignoring them. Look up the hearings currently underway in congress. Search Dennis Kucinich in YouTube
There is no such crisis as the financial bailout package crisis. the bailout was created to overcome the financial crisis.
The Continental Congress
Congress' stated reason for the bailout is that the harm from letting the economy fall as hard as it may outweighs the harm done from government intervention. For example, it would be more harmful to the economy to let General Motors fail (causing hundreds of thousands of lost jobs), than to increase government spending and the possible negatives of that. greed and not caring for the common people.
President Roosevelt asked Congress to declare war on Japan, which Congress did.
Johnson.