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Q: Will the average people get a check from the bailout?
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Continue Learning about American Government

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 and when will taxpayers be affected on the bailout?

1. Bailout is a mechanism to strengthen banks' balance sheet so that their credit rating will not deteriorate thus not requiring to pledge additional asset to creditors. 2. It is also a mechanism to safeguard banks from panic withdrawal from depositors. Bailout comes at a cost (a very huge cost), in dollar term, it was estimated that the whole bailout plan will cost every man, woman and children in the US $2,300. For more information, visit: for

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.

How did the House of Representatives vote on the 2008 bailout bill?

They all sat down together and talked about it.

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

Related questions

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 is the financial bailout package crisis?

There is no such crisis as the financial bailout package crisis. the bailout was created to overcome the financial crisis.

How many votes yes for bailout and how many no for bailout?

205 for it and 228 against it.

What were the major economic events 2008?

The Financial Bailout and the Big 3 bailout

What is the latest bailout plan?

The latest "bailout" is the automotive bailout of the Big Three automakers, Ford, GM, and Chrysler. Legislation was introduced on Dec. 8th.

How much bailout money did FORD receive?

Ford did not receive any bailout money.

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.

Are there any people or organizations that are actually unhappy about the US Government bailout?

Yes; there is a whole bunch of people who are unhappy about the bailout. Their argument is simple: Why must the government spend the taxpayers' money to help clear up the mess made by the financial gurus of Wall Street.

What is a market bailout?

A bailout is a government-funded cash infusion to a failing business. The most famous is now the bailout of AIG. A market bailout is a government0funded cash infusion to an entire market or market sector. The most recent has been the financial sector. It's when the rich and powerful screw up and they want the people to pay for their loss. Another answer is when the politicians know the country is deep in debt and so they give some money to the small businesses to pay their debts. Its also sort of like the stimulus checks they sent out to help people.

Who asked congress for bailout?

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.

What does bailout mean?

See: Bailout refers to the action of helping out somebody in trouble. You can compare the bailout in financial terms to the bail or parol we get for someone in jail. In bailout, a company with strong financial status offers to help a company that is in dire financial needs. Such a scenario is where the stronger company bails out the weaker one.

How much bailout money did citi corp receive?

The Citi group bailout was agreed for $45Billion same as the Bank of America bailout. The numbers about who got what and how they are spending it are pretty much a secret.