As the subprime crisis solidified into a financial crisis in the fall of 2008, U.S. Treasury Secretary Henry Paulson, who was in office at the time, prepared a rescue package to provide the U.S. financial sector with nearly
USD 800 billion. In essence, the state bought up the toxic papers from the banks’ holdings. In return, the state took over shares in the supported companies. Furthermore, managers’ salaries and bonuses were capped. For savings accounts, the government issued a guarantee bond. Both chambers of the U.S. Parliament (Senate and House of Representatives) approved the Paulson plan. – See exit strategy, ECB sinfall, sovereign debt repayment, sinking fund, Tina.
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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
E-mail address: info@ekrah.com
https://de.wikipedia.org/wiki/Gerhard_Ernst_Merk
https://www.jung-stilling-gesellschaft.de/merk/
https://www.gerhardmerk.de/