How Do Insured Deposits Affect Bank Stability? Evidence from the 2008 Emergency Economic Stabilization Act

2013 ◽  
Author(s):  
Claudia Lambert ◽  
Felix Noth ◽  
Ulrich Schuewer
Keyword(s):  
Bank Stability ◽  
Emergency Economic Stabilization Act ◽  
Economic Stabilization

Clogged systems and toxic assets

2011 ◽  
Vol 10 (1) ◽  
pp. 29-49 ◽  
Author(s):  
Jennifer R. Horner
Keyword(s):  
House Of Representatives ◽  
Public Discourse ◽  
The United States ◽  
United States Congress ◽  
Wall Street ◽  
Federal Funds ◽  
The Public ◽  
Emergency Measure ◽  
Emergency Economic Stabilization Act ◽  
Economic Stabilization

The Emergency Economic Stabilization Act, also known as the “Wall Street Bailout,” authorized the allocation of $700B US to address the financial crisis of 2008. The “bailout” did not pass easily; members of the United States Congress reported feedback from angry constituents urging them to vote against it, and the measure failed its first vote in the House of Representatives. This essay focuses on metaphors used in public discourse to describe the “bailout” in the ten days between its introduction to Congress and its failure in the House. Advocates of the economic stimulus plan relied on metaphors that evacuated human agency, portraying the plan as an emergency measure necessitated by crises such as illness, natural disasters, and mechanical failures. Opponents to the plan extended and modified the administration’s metaphors to communicate a critique of the transfer of federal funds to private entities for the good of the public.

scholarly journals The Political Economy of the US Mortgage Default Crisis

2010 ◽  
Vol 100 (5) ◽  
pp. 1967-1998 ◽  
Author(s):  
Atif Mian ◽  
Amir Sufi ◽  
Francesco Trebbi
Keyword(s):  
Economic History ◽  
Mortgage Default ◽  
Special Interests ◽  
Financial Industry ◽  
Congressional Voting ◽  
Prevention Act ◽  
The Us ◽  
Emergency Economic Stabilization Act ◽  
Economic Stabilization ◽  
Mortgage Defaults

We examine the effects of constituents, special interests, and ideology on congressional voting on two of the most significant pieces of legislation in US economic history. Representatives whose constituents experience a sharp increase in mortgage defaults are more likely to support the Foreclosure Prevention Act, especially in competitive districts. Interestingly, representatives are more sensitive to defaults of their own-party constituents. Special interests in the form of higher campaign contributions from the financial industry increase the likelihood of supporting the Emergency Economic Stabilization Act. However, ideologically conservative representatives are less responsive to both constituent and special interests. (JEL D72, G21, G28)

scholarly journals Sound Body, Sound Mind—The Impact of the Mental Health Parity Act of 2008

2010 ◽  
Vol 4 ◽  
Author(s):  
Leigh Stuckhardt
Keyword(s):  
Mental Health ◽  
Mental Illness ◽  
Insurance Coverage ◽  
Health Insurance Coverage ◽  
Economic Downturn ◽  
Mental Health Parity ◽  
Emergency Economic Stabilization Act ◽  
Economic Stabilization ◽  
Relief Program ◽  
The Impact

On October 3, 2008, in response to bank and lending house failures and the worst economic downturn since the Great Depression, President Bush signed into law the Emergency Economic Stabilization Act of 2008, more commonly known as the “bailout bill.” As funds 1 from the financial relief program created by the bailout bill, the Troubled Assets Relief Program (TARP), are spent to slowly reverse the economic recession, another positive effect of the bailout bill has already taken hold in an area having nothing to do with financial markets—health insurance coverage for Americans suffering from mental illness. This is because, buried within the Emergency Economic Stabilization Act, is the Paul Wellstone and Pete Domenici Mental Health Parity and Addiction Act of 2008 (the “2008 Act”)—legislation that requires parity in insurance coverage for physical and mental illness.

The Liquidity Crisis and Government Reaction

2019 ◽  
pp. 13-24
Author(s):  
Alan N. Rechtschaffen
Keyword(s):  
Financial Crisis ◽  
Financial Markets ◽  
Consumer Protection ◽  
Federal Agencies ◽  
Wall Street ◽  
President Obama ◽  
Consumer Protection Act ◽  
Wide Range ◽  
Emergency Economic Stabilization Act ◽  
Economic Stabilization

This chapter begins with a discussion of the buildup to the crisis and the background of the Dodd-Frank Act. On July 21, 2010, President Obama signed the Wall Street Reform and Consumer Protection Act (WSRCPA), widely known as the “Dodd-Frank Act,” a massive piece of financial legislation encompassing a wide range of reforms intended to stabilize financial markets through enhanced oversight, reduction of risk, and improved consumer protection. Its 2,200 pages direct enactment of over 200 new or expanded regulations by federal agencies. The remainder of the chapter covers the Federal Reserve's provision of liquidity and stabilization of financial markets, and regulatory reaction at the height of the financial crisis (Emergency Economic Stabilization Act (EESA) and American Recovery and Reinvestment Act (ARRA)).

scholarly journals Misplaced Populist Rage: Congressional Missteps With Executive Compensation Limitations In The Bailout Legislation

2009 ◽  
Vol 71 (2) ◽  
Author(s):  
Joseph Filloy
Keyword(s):  
Executive Compensation ◽  
Federal Government ◽  
The United States ◽  
Too Big To Fail ◽  
Subprime Mortgage ◽  
Mortgage Crisis ◽  
The World ◽  
Emergency Economic Stabilization Act ◽  
Economic Stabilization ◽  
The U.S

Starting in the summer of 2008, the United States and most other economies of the world began to feel the effects of the subprime mortgage crisis. In response, the federal government enacted The Emergency Economic Stabilization Act of 2008 (EESA) and The American Recovery and Reinvestment Act of 2009 (ARRA) to help restore stability to the U.S. economy. Ultimately this legislation, commonly referred to as “the bailout bill(s),” would result in substantial outlays of taxpayer money to financial institutions deemed systemically significant, or “too big to fail.”

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