Friday, October 03, 2008

Bailout Signed Into law

This afternoon, President Bush signed into law the $700 billion bailout bill. The legislation (HR.1424) was approved Friday by the House in a 263-171 vote.

Rep. Brad Sherman (D-Calif.):

Only two things are certain: the bill will provide hundreds of billions of dollars to investors who made bad decisions and Wall Street executives; and our children and grandchildren will now face a national debt that is hundreds of billions of dollars higher.

Related NBF posts can be found here and here.

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