Senate Landmark Housing Bill
On July 30, 2008 President George W. Bush signed the bill into law. In addition to providing mortgage relief to an estimated 400,000 homeowners, it provides $15 million in housing tax breaks and affords $180 million for legal assistance to those facing foreclosure. International Herald Tribune: Bush signs sweeping housing bill (July 30, 2008) Yahoo! News: Provisions of housing-mortgage relief bill (July 26, 2008)
updated 2010-07-17 21:27:32
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Mortgage Aid Plan
President Bush had previously stated that he may veto the bill, as he did not agree with a section that allowed $3.9 billion to local governments for the purchase and repair of foreclosed properties. However, Bush allowed the legislation to go through including the provision, which Democrats believe will help stabilize communities and housing markets.Bloomberg: Bush Signs Measure for Homeowners, Fannie, Freddie July 30, 2008)
updated 2010-07-17 16:08:06
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Hypo Real Estate
We will have to start over again from last weekend's meetings. Hypo Real Estate has to be stabilized otherwise the damage would be unpredictable. -- German Finance Minister Peer SteinbrueckMarketWatch: German officials in talks to save Hypo Real Estate (October 5, 2008)
updated 2010-07-17 10:19:42
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Porn Bailout
- TheSkunk.org: Porn Industry to get $100 Billion in Federal Aid (December 8, 2008)
updated 2010-07-17 19:09:09
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Bank Nationalization
- Wikipedia: Nationalization
- Reuters: Sen. Graham says bank nationalization an option (February 18, 2009)
- Yahoo! News: Stress testing "nationalization" (February 18, 2009)
- CNN Money: In praise of nationalizing banks (February 17, 2009)
- The Hill: Bank nationalization would test Obama (February 19, 2009)
- Marginal Revolution: Free Market Bank Nationalization (February 17, 2009)
- New York Times: Rescue of Banks Hints at Nationalization (January 15, 2009)
- New York Times: In Japan's Stagnant Decade, Cautionary Tales for America (February 12, 2009)
updated 2010-07-16 22:35:34
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California Emergency Loan
- Mercury News: Wall Street Crisis Threatens California's...Budget Plans (October 3, 2008)
updated 2010-07-17 00:25:05
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Obesity Tax
Reaction to the proposal of an obesity tax has come in on both sides of the issue. Health advocates see it as a way to curb the consumption of non-diet drinks, which they say could have an impact on obesity rates. Others say it is just another way for the state government to get into the pockets of the people, and that the real issue is the failure to produce a balanced budget.MSNBC: Governor proposes 18% obesity tax... (December 17, 2008)
updated 2010-07-17 17:33:40
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Credit Tsunami
Bloomberg.com: Greenspan Concedes to `Flaw' in His Market Ideology (October 23, 2008)
Telegraph.co.uk: Alan Greenspan warns of 'credit tsunami' (October 23, 2008)
U.S. News & World Report: Greenspan: It's Not Just a Crunch... It's a 'Credit Tsunami' (October 23, 2008)
BBC News: Financial crisis 'like a tsunami' (October 23, 2008)
CBS News: Greenspan Sees "once In A Century" Crisis (October 23, 2008)
CNN.com: Greenspan: It's a 'credit tsunami' (October 23, 2008)
WashingtonPost.com: 'Crisis Broader Than Anything I Could Have Imagined' (October 23, 2008)
updated 2010-07-17 02:22:27
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Banker 70 Billion Pay Deals
Employees at several top Wall Street banks will receive about $70 billion in pay deals in 2008, according to news reports. The pay deals, much of which will be paid in bonuses, will be given despite several banks receiving financial assistance through the $700 billion government bailout plan devised to save the financial market. The pay deals were estimated to account for about 10% of the $700 billion bailout plan.The Guardian: Top Wall Street Bankers...$70bn Pay Deal (October 17, 2008)
