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h.r. 1424 ----------------------- 7', color, super 8, 2OO8 music by bernard "zed" szajner : "fremen", "harkonnen", "adab" ----------------------- friday october the 3rd 2OO8, waiting for the closure of the new york stock exchange the day public law 11O-343 (known as h.r. 1424 prior to enactment) is signed into law by president g.w. bush. it was designed to mitigate the growing financial crisis of the late-2000s by giving relief to so-called "Troubled Assets". the emergency economic stabilization act of 2008 (division a of pub.l. 110–343, 122 stat. 3765), commonly referred to as a bailout of the u.s. financial system, is a law enacted in response to the subprime mortgage crisis authorizing the united states secretary of the treasury to spend up to $700 billion to purchase distressed assets, especially mortgage-backed securities, and supply cash directly to banks. the funds for purchase of distressed assets were mostly redirected to inject capital into banks and other financial institutions while the treasury continued to examine the usefulness of targeted asset purchases. both foreign and domestic banks are included in the program. the federal reserve also extended help to american express, whose bank-holding application it recently approved. the act was proposed by treasury secretary henry paulson during the global financial crisis of 2008. (wikipedia) http://en.wikipedia.org/wiki/H.R._1424 http://en.wikipedia.org/wiki/Emergency_Economic_Stabilization_Act_of_2008
H.R. 1424 from christophe beaucourt on Vimeo. 2O14 : 2O13 : |
zapruder syndrom #2: nothing but consumer (€$¥ 2OO8-2OO9)
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christophe beaucourt
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