Cf: https://www.econologie.com/systeme-monet ... -3939.html
Either the government is going to "release" $ 700 billion to buy out bad debt okay so it also buys back the object of the debt then? That is to say the houses ...? The government will become the 1st real estate owner of the USA then?
US House of Representatives Approves Paulson Plan
NOUVELOBS.COM | 03.10.2008 | 20: 20
The $ 700 billion bank bailout, already passed by the Senate, was passed with 263 votes in favor, against 171. George W. Bush promises to promulgate it quickly, calling it vital "to help the US economy to recover. survive the financial storm ".
The US House of Representatives approved the $ 3 billion bank bailout on Friday, October 700, rejected at first reading but already passed by the Senate.
A majority of 218 votes was necessary to pass this text to the House which had rejected it on September 29 by 228 votes to 205.
The Senate had adopted hands down Wednesday (74-25) the text slightly revised on the merits, but heavily amended by various additions that may satisfy the recalcitrant elected officials.
With the approval of the House, this law, which provides historic means to the US Treasury to intervene in the financial sector, is ratified by Congress, which sends it to the office of President George W. Bush for signature.
The American president immediately welcomed the adoption of the plan, promising to promulgate it quickly and calling it vital "to help the American economy to survive the financial storm".
The plan of the secretary of the Treasury, Henry Paulson aims to clean up, with 700 billion dollars, the financial institutions weakened by the real estate crisis.
The text negotiated by the Republican and Democratic leaders gives historic means to the State to intervene in the private sector, and the political leaders aim to widen the majority in favor of the Paulson plan beyond the two parties.