$700 Billion Bailout

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 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. He will offer 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.

The book is an analysis of the controversial Emergency EconomicStabilization Act and explains in easy to understand language whatthe bailout bill means for individuals. $700 Billion Bailoutanswers questions such as:* What does the bill say, exactly?* Who is making decisions about how the $700 billion will bespent, and what does it mean now that the government is investingdirectly in our banks?* Who's footing the bill?* What is the impact on homeowners, businesses, retirement, andtaxes?* Where do I put my money in the meantime?Veteran reporter Paul Muolo shows both the challenges andopportunities of the credit crisis and proposed bailout, includingits impact on:* Mortgages: While rates may be lower, there will be morefees imposed on mortgages. Lenders will be far more cautious inlending, and people who cannot meet their mortgages are likely tolose these homes. This may create a "contrarian" playsin foreclosures and vacation homes..* Stocks and Other Investments: Is now the time to getinto the stock market or is it safer to stick with CDs, bonds, andgold?* Taxes: With the tax breaks, there will be less taxrevenue leading to a huge shortfall to the government over the nextfew years.He will offer insight into these areas and many others,including how the structure of the bailout bill allows forunprecedented authority that has altered the financial landscape,perhaps permanently. Will the plan work, and how we canprevent this from happening again remains to be seen, but with$700 Billion Bailout Paul Muolo gives us a critical tool fordeciphering perhaps the most sweeping piece of legislation sincethe Patriot Act.

Author's Note The $700 Billion Bailout Bill: What Is ThisMonster? ixIntroduction Original Sin: The Emergency Economic StabilizationAct of 2008: The Patriot Act Meets the World of Finance 1Chapter 1 The Big Hoist: Will the $700 Billion Bailout of theMortgage and Credit Markets Work? (It Had Better) 11How the $700 Billion Bailout Machine Will Work and Who WillEnforce It 14How TARP Will Work 16Will the Taxpayers Ever Get Their $700 Billion Back? 24Should Fannie and Freddie Be Eliminated? 28Chapter 2 The Three Most Important Things You Need to KnowNow--Mortgages, Rates, and Housing 31The Bailout Bill: First, the Good News 36Call Up Your Lender and Shout, "I Want to Restructure MyMortgage!" 41The Bad News: Getting a Mortgage Is Going to Be Much Tougher46A Word about Interest Rates 48Falling Home Values 50The Wealthy Will Not Escape Unscathed 51The Silver Lining: Falling Home Prices Mean Bargains for Some52How Will We Know When Home Prices Have Stopped Falling? 53Chapter 3 Where to Put Your Money Now (Hint: Not in aVacation Home) 55The Day the Flipping Stopped 58The Contrarian Play in Vacation Homes 61Investing in Foreclosures 62Stocks: Is Now the Time to Get In? 63Once You Decide to Jump In . . . 67Safe Havens: Ginnie Mae and Treasury Bond Mutual Funds 68A Word about Gold 70The Safest Haven of All: CDs and Savings Accounts in FederallyInsured Banks, S&Ls, and Credit Unions 70Chapter 4 Taxes and Politics: EESA Digs a Deeper Money Holefor All of Us 73What Tax "Bennies" Were Actually Given Away? 76What Do All These Tax Breaks Mean for the Consumer? 81The Last Word: Politics 83Epilogue The Last Word: If I Ran the Regulatory Zoo 87Excerpts from the Emergency Economic Stabilization Act of 200891Glossary of Terms and Agencies 177About the Author 187