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The U.S. Senate passed the “Emergency Economic Stabilization Act of 2008” on Wednesday. The House of Representatives did the same on Friday afternoon.

As you’ve all heard numerous times by now, the Emergency Economic Stabilization Act of 2008 provides up to $700 billion to the Secretary of the Treasury to stabilize the economy by buying mortgages and other assets of troubled financial institutions and provides an avenue for companies to insure troubled assets; there are also provisions for homeowners, protections for the taxpayers, a no windfall clause for executives and strong ove...