In September 2008, the U. S. Treasury made an unprecedented request of Congress to pass an
In September 2008, the U. S. Treasury made an unprecedented request of Congress to pass an emergency $700 Billion-dollar Rescue Plan to bail out Financial Firms whose mismanagement of sub-prime loans threatened the liquidity and solvency of the entire banking industry.
In your opinion, do you believe that Congress acted correctly in approving the Treasury’s request? Why or Why not?
If Congress did not approve the Rescue Plan, what would have been the consequences? In your opinion, would this course of action been better in the long run?