Financial Bailout - What's Your Opinion?

A historical look at the Financial Bailout Bill Unveiled, Heads to House by Ruth Mantell and Andrea Coombes, Market Watch, September 28, 2008.

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Buy-In Plan To Stimulate US Economy?

Nancy Pelosi, Speaker of the House of Representatives, defined the vote as a buy-in to stimulate the U.S. economy, adding it was not just about a financial bailout.

Mortgage Bailout Plan - Unclog Credit Create Jobs?

Henry Paulson, United States Treasury Secretary, believed the new legislation would unblock financial markets. At the same time, the bailout should have created an injection of confidence, positioning the lending institutions to once again begin offering credit, instrumental to job creation.

Financial Bailout Summary

  • Authorized $250 billion immediately
  • Another $100 billion upon presidential certification
  • Further $350 billion available subject to congressional approval
  • Treasury Department could use a combination of tactics to buy bad loans
  • Allowed companies to participate in insurance program, whereby Treasury would guarantee troubled assets
  • Taxpayer money could be recovered if those companies benefited in the future
  • Required President to submit a proposal to Congress after 5 years to recoup from financial industry any losses to taxpayers
  • Existing executive compensation contracts were to remain as is
  • In some cases, the bill required companies to limit executive pay

Mortgage Bailout Helps Distressed Homeowners?

But what about a mortgage bailout plan for distressed homeowners? The financial bailout plan contained a little language encouraging mortgage servicers to offer mortgage loan modifications assisting homeowners on the verge of foreclosure.

Be Part Of Mortgage News - Share Views

So what are you thinking about the financial bailout today? Here is your opportunity. Make your voice heard. Was it successful?

Join in with other readers and comment on the financial bailout, the mortgage market and other historical newsworthy events. Visit Ultimate Mortgage News to share your views and weigh in on other readers' opinions.

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Financial Bailout Plan was designed to assist US markets. Was it succcessful? Weigh in and offer your opinion.