The U.S. House Passes Bailout

Here are Some Bailout Bill Details
Well as predicted here, the bailout bill has been passed by Congress. Just four days after the defeat of President Bush’s financial bailout package in Congress, the House of Representatives gave the revamped plan a new look and evidently liked what was in it.
Some of the new things added [...]

What Does FDIC Deposit Insurance Cover?

We all remember the “run” on the savings and loan in the movie “It’s a Wonderful Life“.  This is basically what happened that forced the Feds to take over WAMU. 
Washington Mutual, which was bought by JP Morgan after being grabbed by the US authorities late yesterday, was a major player in the controversial “option ARM” [...]

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