$700 Billion Bailout (Paperback)
By Paul Muolo
The book is an analysis of the controversial Emergency Economic Stabilization Act and explains in easy-to-understand language what the bailout bill means for individuals. "$700 Billion Bailout" answers questions such as:
- What does the bill say, exactly?
- Who is making decisions about how the $700 billion will be spent, and what does it mean now that the government is investing directly in our banks?
- Who’s footing the bill?
- What is the impact on homeowners, businesses, retirement and taxes?
- Where do I put my money in the meantime?
Veteran reporter Paul Muolo shows both the challenges and opportunities of the credit crisis and proposed bailout, including its impact on:
- Mortgages: While rates may be lower, there will be more fees imposed on mortgages. Lenders will be far more cautious in lending, and people who cannot meet their mortgages are likely to lose these homes. This may create a “contrarian” play in foreclosures and vacation homes.
- Stocks and Other Investments: Is now the time to get into the stock market or is it safer to stick with CDs, bonds and gold?
- Taxes: With the tax breaks, there will be less tax revenue leading to a huge shortfall to the government over the next few years.
The author offers insights into these areas and many others, including how the structure of the bailout bill allows for unprecedented authority that has altered the financial landscape, perhaps permanently. Will the plan work? How we can prevent this from happening again? This remains to be seen, but with "$700 Billion Bailout" Paul Muolo gives us a critical tool for deciphering perhaps the most sweeping piece of legislation since the Patriot Act.
Paperback: 188 pages
Publisher: Wiley (December 10, 2008)
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