Taxpayer Relief Act of 2008

While our CongressCritters have been burning the midnight oil to save the banks from the damage inflicted upon them by regulations enacted by  Congress, I’ve been busy preparing  a suitable graphic for the final bill. Now if you’all just assume the proper position, it will make it much easier.

UPDATE:

SUMMARY OF THE “EMERGENCY ECONOMIC STABILIZATION ACT OF 2008”
I. Stabilizing the Economy
The Emergency Economic Stabilization Act of 2008 (EESA) provides up to $700 billion to the Secretary of the Treasury to buy mortgages and other assets that are clogging the balance sheets of financial institutions and making it difficult for working families, small businesses, and other companies to access credit, which is vital to a strong and stable economy. EESA also establishes a program that would allow companies to insure their troubled assets.
II. Homeownership Preservation
EESA requires the Treasury to modify troubled loans – many the result of predatory lending practices – wherever possible to help American families keep their homes. It also directs other federal agencies to modify loans that they own or control. Finally, it improves the HOPE for Homeowners program by expanding eligibility and increasing the tools available to the Department of Housing and Urban Development to help more families keep their homes.
III. Taxpayer Protection
Taxpayers should not be expected to pay for Wall Street’s mistakes. The legislation requires companies that sell some of their bad assets to the government to provide warrants so that taxpayers will benefit from any future growth these companies may experience as a result of participation in this program. The legislation also requires the President to submit legislation that would cover any losses to taxpayers resulting from this program by charging a small, broad-based fee on all financial institutions.
IV. No Windfalls for Executives
Executives who made bad decisions should not be allowed to dump their bad assets on the government, and then walk away with millions of dollars in bonuses. In order to participate in this program, companies will lose certain tax benefits and, in some cases, must limit executive pay. In addition, the bill limits “golden parachutes” and requires that unearned bonuses be returned.
V. Strong Oversight
Rather than giving the Treasury all the funds at once, the legislation gives the Treasury $250 billion immediately, then requires the President to certify that additional funds are needed ($100 billion, then $350 billion subject to Congressional disapproval). The Treasury must report on the use of the funds and the progress in addressing the crisis. EESA also establishes an Oversight Board so that the Treasury cannot act in an arbitrary manner. It also establishes a special inspector general to protect against waste, fraud and abuse.

The “devil” will be in the details, of course.

Tags: , ,

40 Responses to “Taxpayer Relief Act of 2008”

  1. Anonymous Says:

    america is a bunch of bone smugglin krackers

  2. Kirk Says:

    My family members always say that I am wasting my
    time here at web, however I know I am getting experience every day by reading such good articles.

  3. trace scam email Says:

    I’d like to thank you for the efforts you have put in writing this website.
    I’m hoping to check out the same high-grade blog posts by you
    in the future as well. In truth, your creative writing abilities has encouraged
    me to get my very own blog now 😉

  4. chicago driveway Says:

    I was curious if you ever thought of changing the layout of your blog?
    Its very well written; I love what youve got to say. But maybe you could a little more in the way of content so people could
    connect with it better. Youve got an awful lot of text
    for only having 1 or two images. Maybe you could space it out better?

  5. Shawna Says:

    This design is steller! You definitely know how to keep a
    reader amused. Between your wit and your videos, I
    was almost moved to start my own blog (well, almost…HaHa!) Fantastic job.
    I really loved what you had to say, and more than that, how you presented
    it. Too cool!

  6. http://www.yuva-bharat.com/10_Steps_To_Be_Muay_Thai_Fighter. Says:

    Wow that was strange. I just wrote an really long comment but
    after I clicked submit my comment didn’t appear.
    Grrrr… well I’m not writing all that over again. Anyways,
    just wanted to say fantastic blog!

  7. Waukegan SEO Company Says:

    Awesome blog! Is your theme custom made or did you download it from somewhere?

    A design like yours with a few simple tweeks would really make my blog stand
    out. Please let me know where you got your theme. Cheers

  8. www.neue-sportnachrichten.de Says:

    Hi! This is kind of off topic but I need some advice from an established
    blog. Is it hard to set up your own blog? I’m not very
    techincal but I can figure things out pretty quick.
    I’m thinking about setting up my own but I’m not sure where
    to start. Do you have any tips or suggestions? Thanks

  9. Carmela Says:

    Very great post. I just stumbled upon your blog and wished to mention that I’ve truly enjoyed surfing
    around your weblog posts. After all I’ll be subscribing
    in your feed and I’m hoping you write again very soon!

  10. food lovers diet online Says:

    Add the tomatoes and potatoes. The disease diet described
    here – in healthy animals but can one day a
    significant mortality benefit and delight
    future generations. Good: Cleansing KnickerbockersCarmelo Anthony
    is in the supermarket to make to buy a bread maker.

    You may notice, this is a way to play? You can indulge yourself on special occasions, disease and
    soybeans. And there you have caused metabolic damage from
    a complete array of unique foods from the body fails to encourage you to find
    out.

  11. http://qcn.stanford.edu/ Says:

    Hi there all, here every one is sharing such familiarity, thus it’s good
    to read this website, and I used to visit this web site daily.

  12. https://www.youtube.com/channel/UCSgSFIyQbPA87ddVSwJD6LQ Says:

    Hi there! I just wanted to ask if you ever have any issues with hackers?
    My last blog (wordpress) was hacked and I ended up losing a few months of hard work
    due to no back up. Do you have any methods to
    stop hackers?

  13. tinnitusmiraclefree.blogspot.com Says:

    He or she can help you find ways to deal with it, even though there
    are currently no medications specifically designed to treat the problem.

    You should also pay close attention to which medications you’re taking especially when you’re
    taking several different kinds. The ototoxicity of various medicines will have a cumulative effect if they are taken together and they could substantially increase the amount
    of disturbing noise being perceived in a person’s
    head.

  14. Ultimate Candida Diet Book Says:

    Your body is expending energy to help digest the food
    you have just eaten, taking away from the energy that
    is required to keep your body at a constant temperature.
    Basically, any part of the body has the possibility of getting yeast infections, anywhere warm and moist.
    Learning how to pick a ripe avocado will probably be your biggest challenge.

  15. Addiction Rehab Centers In Chicago Says:

    A lot of addicts do not believe inn these policies and fail to have any hope
    in the treatment. That made us think, ” Doesn’t most healthcare revolve around that same alleged revolving-door concept. Do you wish you could stop your addiction and get treatment.

  16. cómo puedo ganar dinero desde mi casa Says:

    I couldn’t resist commenting. Exceptionally well
    written!

  17. aieee.nic.in Says:

    I used to be suggested this web site by way of my cousin. I am now not certain whether this put up is written via
    him as nobody else recognize such specified about my difficulty.
    You are amazing! Thanks!

  18. Joel Says:

    What a data of un-ambiguity and preserveness of precious
    know-how regarding unexpected emotions.

  19. Opinion panels Says:

    I’ve been browsing online more than three hours today, yet I never found any interesting article like yours.
    It’s pretty worth enough for me. Personally, if all website owners and bloggers made good content as you did, the internet will be a lot more useful than ever before.

  20. view more Says:

    I don’t know whether it’s just me or if everyone else encountering problems with your site.
    It appears as though some of the written text in your content are running off the screen. Can somebody else please comment and let me know if this is happening to them as
    well? This could be a issue with my browser because I’ve had this happen previously.

    Appreciate it

  21. click here Says:

    I know this web site offers quality depending articles and other
    data, is there any other website which presents such things in quality?

  22. visit this site Says:

    Have you ever thought about including a little bit more than just your articles?

    I mean, what you say is fundamental and all.
    Nevertheless think about if you added some great visuals or video clips to give your
    posts more, “pop”! Your content is excellent but with pics and video clips, this website could undeniably be one of the very
    best in its field. Good blog!

  23. check this out Says:

    Hi! I just wanted to ask if you ever have any trouble
    with hackers? My last blog (wordpress) was hacked and I ended up losing several weeks of hard work due to no
    data backup. Do you have any methods to stop hackers?

  24. find more Says:

    Heya! I just wanted to ask if you ever have any issues with hackers?
    My last blog (wordpress) was hacked and I ended up losing months of hard work due to no back up.

    Do you have any solutions to protect against hackers?

  25. visit this website Says:

    We’re a bunch of volunteers and starting a new scheme in our community.
    Your site offered us with helpful info to work on. You
    have performed an impressive task and our entire community might be grateful to you.

  26. http://bestelectricsmokers121276.pen.io Says:

    At this time it appears like Drupal is the top blogging platform available right
    now. (from what I’ve read) Is that what you’re using on your blog?

  27. check this out Says:

    This is a very good tip particularly to those new to the blogosphere.
    Simple but very accurate information… Thanks for sharing this one.
    A must read post!

  28. Catering Equipment UK Says:

    fantastic issues altogether, you simply received a emblem new reader.

    What could you recommend about your publish that you
    just made some days ago? Any sure?

  29. iserver.ingetec.com.co Says:

    I just like the valuable information you provide for your articles.
    I will bookmark your weblog and take a look at once more right here frequently.
    I am moderately certain I’ll be informed plenty of new stuff right here!
    Best of luck for the next!

  30. otiliaradkjr@mail.ru:pop3.mail.ru:110:otiliaradkjr@mail.ru:utk9qDXp:0 Says:

    Hello, its good paragraph regarding media print, we all be
    familiar with media is a wonderful source of facts.

  31. motorcycle tire dry rot Says:

    I’ve been browsing online more than 2 hours
    today, yet I never found any interesting article
    like yours. It’s pretty worth enough for me. In my view, if all web owners and bloggers made good content as
    you did, the web will be a lot more useful than ever before.

  32. Bonny Says:

    Excellent article. Keep writing such kind of info on your
    blog. Im really impressed by your blog.
    Hey there, You have performed an excellent job. I will certainly digg it and in my view suggest to my friends.
    I am confident they will be benefited from this website.

  33. wiki.oldhousebible.com Says:

    It’s amazing to pay a quick visit this web page
    and reading the views of all mates regarding this piece of
    writing, while I am also keen of getting experience.

  34. cptstorefront.com Says:

    I think the admin of this site is actually working hard for his
    web site, as here every stuff is quality based information.

  35. Business Marketing Says:

    What’s up, everything is going sound here and ofcourse every one is sharing data, that’s truly excellent,
    keep up writing.

  36. marketing online Says:

    Howdy, I believe your website could possibly be having web browser compatibility issues.
    Whenever I look at your site in Safari, it looks fine but when opening
    in Internet Explorer, it’s got some overlapping issues.
    I simply wanted to give you a quick heads up!

    Other than that, great blog!

  37. promovare site google Says:

    Great info. Lucky me I ran across your blog by accident (stumbleupon).
    I’ve book-marked it for later!

  38. bandeau bikini Says:

    What’s Taking place i’m new to this, I stumbled upon this I have found
    It positively helpful and it has aided me out loads. I hope to give a contribution & help other customers like its aided
    me. Good job.

  39. rochii de ocazie online Says:

    I like the valuable information you provide in your articles.

    I’ll bookmark your weblog and check again right here frequently.
    I am slightly certain I will learn many new stuff right
    here! Good luck for the next!

  40. legea pensiilor 2011 Says:

    This information is worth everyone’s attention. How can I find out more?

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s


%d bloggers like this: