The trickery in the Wall St bailout -- The Emergency Economic Stabilization Act of 2008 -- seems to be in the alternative to the TARP suggested by House Republicans and midwifed into the bill by John McCain. This has the government providing bad asset insurance, which doesn't like a good business to be in, and firms opting for bad asset insurance can avoid all the regulatory and compensation restrictions in the rest of the bill. It'll be interesting to see how these provisions are greeted this week.
Here's a non-technical explanation of the bill by section
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