Emergency Economic Stabilization Act of 2008


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Emergency Economic Stabilization Act of 2008

Legislation in the United States that authorized $700 billion for the government to purchase high risk assets (particularly mortgage-backed securities) from banks and other financial institutions to keep these institutions from collapsing due to defaults. It also allowed this money to be used to provide capital directly to banks. The Act was passed because it was thought that the U.S. (and indeed the global) financial industry was on the verge of collapse because of excessive risk taking. It is widely considered a bailout of American (and some foreign) banks. See also: Late 2000s recession.
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Compare Emergency Economic Stabilization Act of 2008 [section] 121, with Emergency Economic Stabilization Act of 2008 [section] 125.
The Emergency Economic Stabilization Act of 2008 (EESA) included the following language amending the renewable diesel tax credit: "such term does not include any fuel derived from coprocessing biomass with a feedstock which is not biomass.
The R&D Tax Credit gets new life as part of the Emergency Economic Stabilization Act of 2008.
On September 29, 2008, Congressman Pete Stark (D-CA) spoke on the House floor in opposition to the Emergency Economic Stabilization Act of 2008, otherwise known as the Wall Street bailout.
This change had been planned and was scheduled to go into effect in 2011, but the Emergency Economic Stabilization Act of 2008 accelerated the effective date to October 1, 2008.
On Capitol Hill, lawmakers had hoped to gain some economic traction through passage of the Emergency Economic Stabilization Act of 2008, which provided $700 billion in government guarantees for bad loans.
After several days of negotiations and the addition of many new clauses, the Emergency Economic Stabilization Act of 2008, drafted by the Bush administration, was finalised.
Treasury's voluntary Capital Purchase Program, a part of the Emergency Economic Stabilization Act of 2008, which was designed to provide capital to healthy financial institutions to promote confidence and stabilization in the economy.
The disclosure requirements were relaxed somewhat in the recently enacted Emergency Economic Stabilization Act of 2008, but were not remanded to their original level.
The Emergency Economic Stabilization Act of 2008 (EESA) (1) empowers the Secretary of the Treasury to act to restore liquidity and stability to the financial system of the United States, and authorizes funds on a graduated scale that the Secretary may use for this purpose.
The recently enacted Emergency Economic Stabilization Act of 2008 includes the long-awaited extension of the IRC [section] 41 research credit.
The Emergency Economic Stabilization Act of 2008 (EESA) is intended to allow financial institutions to rid themselves of "troubled assets" and resume regular lending activities.

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