Monday, October 06, 2008

Emergency Economic Stabilization Act Of 2008

If you're tired of reading all the news accounts of the 2008 Bailout Bill, here is a link directly to the U.S. House website where you can open and read the entire ACT.

I normally don't get too political around here, but I find some irony in the fact that the same folks who ran the big banks and Wall Street several years back pushed (and quite hard) to have the nation's bankruptcy laws rewritten. In the new bankruptcy law is a requirement that before and individual can file for personal bankruptcy, he or she has to complete a Financial Management Course. Basically, the big banks were saying Americans can't handle their finances and need some schooling on it.

Nowhere in the 400 plus pages of the Bailout Plan did I see any mention where Congress is going to require any of the Bankers or Wall Street Brokers to attend or start attending any classes to show them how to handle their Finances as a condition for bailing them out.

House Financial Services Committee

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