The House Committee on Financial Services has released a full draft of the Emergency Economic Stabilization Act of 2008 (EESA).
What’s an EESA? You may think of it as the “bail out bill”. It’s written in the scintillating prose reserved for politicians and lawyers. The link above will take you to it in its entirety. It is a 110 page PDF file, I haven’t read it yet.
The bill should go up for a vote on Monday. Keep in mind this is a draft, it could change.
Here is the official summary of the Emergency Stabilization Act of 2008. It includes five sections — stabilizing the economy, homeownership preservation, taxpayer protection, no windfalls for executives, and strong oversight.