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Synopsis

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.

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