Praise for Muolo's Chain of Blame:
"There's no time like the present to read this one. Talk about a whopping tale—and it happens to be true."
–USA Today
"Chain of Blame offer[s] instant history on what may turn out to be the worst economic disaster of our time."
–Wall Street Journal
"For the federal investigators now piecing together the history of who knew what when, Chain of Blame's storehouse of stories provides a good place to start."
–BusinessWeek
Is America a sinking ship? With the economy in the midst of crisis, the United States government has approved an unprecedented $700 billion bailout of the battered financial industry.
$700 Billion Bailout is an analysis of the controversial Emergency Economic Stabilization Act and explains in easy to understand language what the bailout bill means for individuals. The bill, described as the $700 billion bailout . . . and $110 billion in tax breaks, will include tax breaks shielding millions of taxpayers from the alternative minimum tax this year, increase FDIC insurance for bank deposits from $100,000 to $250,000, and provide support for Wall Street's floundering financial institutions. But what does this truly mean for people on Main Street?
The book provides understandable analysis of the bill's provisions and offers "to do" and "not to do" steps on how the bailout bill impacts individuals. Whether the plan will work, and how we can prevent this from happening again remains to be seen, but with $700 Billion Bailout Paul Muolo gives us a critical tool for deciphering perhaps the most sweeping piece of legislation since the Patriot Act.
