Question

In 2007 there was a major financial collapse in the US linked to the weak housing market and failing banks, Congress addressed this issue in 2008 by _______________

Answer 1

Answer:

issuing the Emergency Economic Stabilization Act of 2008 or commonly called the "bank bailout of 2008"

Explanation:

The bailout was meant to Improve liquidity, Stabilize the economy, Investor confidence and to be in effect Immediately and significantly.

The financial size of the bailout was approximately $700 billion!