"John Broder of The New York Times has an interesting piece on Al Gore’s financial profit tied to his global warming alarmism and push for renewable energy. Gore’s venture capital firm invested in Silver Spring Networks, a company that makes hardware and software to improve efficiency in the...
Emergency Economic Stabilization Act of 2008
The Emergency Economic Stabilization Act of 2008 was not the first stimulus bill passed in 2008, but it certainly was the largest at over $700 billion. Known as the Troubled Asset Relief Program (TARP), it's since been followed by several additional bailouts and stimuli as well as efforts by the Federal Reserve to provide liquidity to troubled banks and institutions.
From the bill:
"SEC. 2. Purposes.
The purposes of this Act are-
(1) to immediately provide authority and facilities that the Secretary of the Treasury can use to restore liquidity and stability to the financial system of the United States; and
(2) to ensure that such authority and such facilities are used in a manner that-
(A) protects home values, college funds, retirement accounts, and life savings;
(B) preserves homeownership and promotes jobs and economic growth;
(C) maximizes overall returns to the taxpayers of the United States; and
(D) provides public accountability for the exercise of such authority."
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