Bailout Bill Nears Approval in Congress

Thursday, January 08th, 2009

Hot Topics : Hard Assets to Soar in 2009 | Bailouts to Boost Asian Markets | Treasury Bond Short Too Obvious? | Resource Scarcity Ahead

Sep 25th, 2008 | By Contrarian Profits | Category: Financial News

It looks as though Hank Paulson’s controversial $700 billion bailout bill will make it through Congress. This from Reuters:

Congress is making “tremendous progress” on a U.S. bank bailout bill, Rep. Paul Kanjorski, the chairman of the House of Representative’s subcommittee on capital markets, a Democrat from Pennsylvania, told CNBC. An agreement on a bailout bill is “almost an accomplished fact,” [...] Kanjorski said.

The news sent US stocks skyrocketing this morning. The Dow (DJI) climbed over 200 points in barely an hour of trading. Justice Litle says there are 5 things every investor needs to know about the Paulson plan.

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More on this topic (What's this?)

Calls to Congressmen Running in Favor of Bailout Bill (naked capitalism, 9/30/08)

Paulson Plan Officially On (naked capitalism, 9/25/08)

Why the $850 Billion Bailout Plan is Still the Biggest Robbery of the 21st Century (the Underground Investor, 10/2/08)

Read more on 2008 Financial Crisis at Wikinvest

Tags: Bank Stocks, credit crisis, government bailout, Justice Litle, US Banking, US stocks

By Contrarian Profits

September 30, 2008 -- The Dollar Can’t Survive This Crisis… Buy Gold Now
December 10, 2008 -- Dow Will Swoon Again In 2009
November 18, 2008 -- 5 Financial Crisis ‘Aftershocks’ You Must Prepare For Today

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Brian September 25th, 2008 1:30 pm :

Mark the date the Bill is signed into law. It’ll be the official end of the United States. I’m sure many countries around the world will cheer. Sit back, grab your favorite bottle, and enjoy the show of the largest financial collapse in human history.

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