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September 29, 2008

Federal Bailout Bill - Updated

Here is the text of the most recent version of the bailout bill - the Emergency Economic Stabilization Act of 2008, also known as TARP - Troubled Asset Relief Program.  It requires the Treasury to create an Office of Financial Stability and establishes a Financial Stability Oversight Board. 

I'm not sure what the interest rate is on the federal debt but at 3% lets say, the interest is $27 billion each month, or about a billion dollars a day ($37 million an hour).    

September 29, 2008 in Current Affairs | Permalink

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