• Emergency Economic Stabilization Act of 2008: What It Says for Financial Institutions
  • October 25, 2008 | Author: Michael E. Bleier
  • Law Firm: Reed Smith LLP - Pittsburgh Office
  • On Friday October 3, 2008, President Bush signed into law the Emergency Economic Stabilization Act of 2008 (the "EESA" or the "Act"). The EESA was the result of a bipartisan deal reached after the U.S. House of Representatives on Monday, September 29, 2008, failed to pass legislation dealing with the Treasury's proposed $700 billion bailout for the financial services sector to restart bank lending and unfreeze the financial services markets.