0
Want this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
What date was the 700 billion bailout passed?
The bailout was passed by the House of Representatives and signed into law by the president on Friday October 3, 2008.
How did they vote on the bailout plan?
They voted on the bailout plan just like any bill passed by the government. When the Bill was initially introduced, it had been rejected by the US Senate on Sep 29th 2008. It was then amended and approved by the US Senate on Oct 3rd 2008. President Bush signed the bill into law within hours of its enactment, creating a $700 billion Troubled Assets Relief Program to purchase failing bank assets.. Without majority in the house the bailout would not have come into existence
How did the president overrule the Senates vote on the auo bailout?
The bill that was defeated in the Senate was a 14 billion dollar rescue plan for the automakers. The President has no power to overrule a bill that is defeated in Congress. The 17.4 billion dollar assistance to the automakers will be a low interest loan drawn from the 700 billion "bail out" fund already passed by both Houses in October.
Is the 700-million-dollar bailout a ploy by the Republican party to try and gain votes in the US elections?
Everything with those people (both parties) is a ploy for re-election.
What was the voting out-come of the 700 billion bail out in congress?
The Emergency Economic Stabilization Act of 2008 commonly referred to as a bailout of the U.S. financial system, is a law authorizing the United States Secretary of the Treasury to spend up to US$700 billion to purchase distressed assets, especially mortgage-backed securities, from the nation's banks. The Act was proposed by U.S. President George W. Bush and Treasury Secretary Henry Paulson during the global financial crisis of September-October 2008. The purpose of the plan was to purchase bad assets, reduce uncertainty regarding the worth of the remaining assets, and restore confidence in the credit markets. When the Bill was initially introduced, it had been rejected by the US Senate on Sep 29th 2008. It was then amended and approved by the US Senate on Oct 3rd 2008. President Bush signed the bill into law within hours of its enactment, creating a $700 billion Troubled Assets Relief Program to purchase failing bank assets..
How do Republicans and Democrats differ on their views of the US government's 700-billion-dollar bailout?
Among the congressmen, there doesn't seem to be any clear line that either party follows. 65 republicans voted yes, 133 voted no. 140 democrats voted yes, 95 voted no. So, there is no clear attitude, but as you can tell from the voting, the democrats in Congress are generally a bit more positive on the bailout.
Define the 700 billion US bailout plan?
Much of it is still evolving. Suggest you review wikipedia under bailout plan.
What date was the 700 billion bailout passed?
The bailout was passed by the House of Representatives and signed into law by the president on Friday October 3, 2008.
What is the cost of government bailout?
Congress says 700 billion dollars, but no one knows for sure.
Do Americans have any vote in this 700 billion bailout?
Directly NO Indirectly YES (Because the people elected by the citizens of USE were the ones who created this bailout plan)
What will the 700 billion dollar bailout solve?
It will solve the economic crisis that has affected the US and the whole world
Federal government bailout plans of major corporations are just?
A very good question. Not an easy one to answer. Many legislators voted against the 700 billion bailout on the basis that it was not the purpose of government. President Bush stated that ordinarily, it would be his policy just to let corporations fail than to bailout them out. However, he supported the bailout plan on the basis that to do nothing could put the country in a long term depression. I suggest that those who wish to express their opinion use the "discuss" option, rather than continue to add to this answer.
What is Hank Paulson's connection to the US government's 700 billion dollar bailout?
Henry (Hank) Paulson is the Treasury Secretary of the United States. He was formerly the CEO of Goldman Sachs. The massive $700 billion dollar bailout is his plan to help save the failing banks and lending institutions in the United States.
Should the US government cut spending after the 700 billion dollar bail-out goes through?
If the bailout package is able to successfully revive the US economy then the US government should cut spending on the bailout. But some financial experts feel this 700 billion may not be sufficient. If what they predict becomes true then the government would have to pump in more cash into the bailout package. This bailout cannot be left in midway because the future of the world and US economy lies predominantly on this bailout and people are hoping that this works out successful.
Will the 700 billion dollars for the bailout come from China?
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.
Where did the 700 billion dollar bailout come from?
For Vietnam, that wasn't a bail out; that was defense spending. And US tax payers pay for everything.
Is the bailout plan a 750 billion plan?
minus the 50 and you got $700 million because the legislature didn't want to go pass it.
