The re-introduced $700B Bailout plan was approved with a couple of additions. The most relevant are: The increase in the amount insured by the FDIC ($250,000 up from $100,000), a Child Tax Benefit Extension and a special assistance to victims of recent Hurricanes.
The main goal of the plan is to jump start lending among Financial Institutions and in exchange get an equity stake in the rescued Banks. This Diagram presents a very simplified view of the actual proposal but its main points are expressed in graphical form.
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Alfonso Esparza
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
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