$700 Billion Bailout: The Emergency Economic Stabilization Act and What It Means to You, Your Money, Your Mortgage and Your Taxes
Publisher: Gildan Media
Date: December 2008
Duration: 3 hours 22 minutes
Many people are both alarmed and confused by what they've heard about the "$700
billion bailout. They're worried about their savings, their jobs and their homes.
This audio book provides an understandable analysis on how the bailout bill impacts you,
and offers "to do" or "not to do" steps for you to follow. It is a must have for all
Best-selling author Paul Muolo has been reporting and writing on the mortgage crisis for
some two decades and brings his seasoned and skeptical approach to his work. He has
access to the key players in the banking, mortgage and Washington world, often breaking
"scoops" before other journalists. Here, Muolo offers an unbiased view on how Wall
Street got mixed up in the world of mortgages, and unravels what was going on behind
the scenes in the housing and mortgage industry for much of the past decade.
In his analysis of the controversial Emergency Economic Stabilization Act, Muolo explains in easy to understand language what the bailout bill means for individuals and answers such questions 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?
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. Lenders will be more cautious in lending, and people who cannot meet their mortgages are likely to lose these homes. This may create "contrarian" plays 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.
Muolo offers insight 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, and how we can prevent this from happening again 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.