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The Emergency Economic Stabilization Act of 2008, also known as the "bank bailout of 2008" or the "Wall Street bailout", was a United States federal law enacted during the Great Recession, which created federal programs to "bail out" failing financial institutions and banks.
In total, U.S. government economic bailouts related to the 2007–2008 financial crisis had federal outflows (expenditures, loans, and investments) of $633.6 billion and inflows (funds returned to the Treasury as interest, dividends, fees, or stock warrant repurchases) of $754.8 billion, for a net profit of $121 billion. [94]
After assessing that a disorderly failure of AIG could worsen the current financial and economic crisis, [38] and at the request of AIG, the Federal Reserve Bank of New York intervened. The Federal Reserve required a 79.9 percent equity stake as a fee for service and to compensate for the risk of the loan to AIG.
The bailout bill's final passage capped a tumultuous week of legislative efforts that President George W. Bush signed the Emergency Economic Stabilization Act into law on Oct. 3, 2008.
Hundreds of billions in taxpayer dollars were used to bail out banks and other corporations during the 2007-2008 financial crisis and the savings and loan crisis in the 1980s and 1990s ...
Financial crisis of 2007–2008; Economic Stimulus Act of 2008; 2009 energy efficiency and renewable energy research investment; 2010 United States federal budget; Build America Bonds; Economic Recovery and Middle-Class Tax Relief Act of 2009; Energy law of the United States; European Economic Recovery Plan; Federalreporting.gov; Pathways out ...
Obama presents his first weekly address as President of the United States on January 24, 2009, discussing the American Recovery and Reinvestment Act of 2009 Job Growth by U.S. president, measured as cumulative percentage change from month after inauguration to end of term. 2016 was the first year U.S. real (inflation-adjusted) median household income surpassed 1999 levels.
The International Monetary Fund's executive board has approved a long-awaited $3 billion bailout for Ghana in hopes of combating the country’s economic crisis. Facing soaring inflation, high ...