News — bailout
What’s the Bailout Plan All About?
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Generally, the bailout plan was a sort of debt relief program that was pushed during the Bush administration. It was during a time wherein there was a great upheaval in the world of finance. After all, drastic circumstances require drastic steps to be taken to resolve it. How it works is that there was a recovery package valued at around $700 billion set aside for this. It’s technically a bailout program that called for the government to spend that allotted recovery package amount to buy out distressed mortgages. The thing with the recovery package is that it cannot go any...