City of Baltimore - File #: 08-0079R

• File #: 08-0079R
• Version: 0
• Name: Emergency Economic Stabilization Act of 2008 - Congressional Briefing
• Type: City Council Resolution
• Status: Adopted
• File created: 10/27/2008
• In control: City Council
• Final action: 10/27/2008
• Title: Emergency Economic Stabilization Act of 2008 - Congressional Briefing FOR the purpose of respectfully requesting the Baltimore City Congressional Delegation to the 110th Congress to brief the citizens of Baltimore City on the provisions of the Emergency Economic Stabilization Act that authorizes the Treasury Secretary to establish a Troubled Asset Relief Program (TARP) to purchase troubled assets from financial institutions, to explain how the President’s financial rescue plan will benefit members of the general public, and to assure taxpayers that their hard-earned money is not being used to line the pockets of executives who already have more than the average citizen.
• Sponsors: Sharon Green Middleton, Bill Henry, Nicholas C. D'Adamo, President Young, Helen L. Holton, Agnes Welch, Rochelle Spector, Warren Branch, Mary Pat Clarke, Belinda Conaway, James B. Kraft, Robert Curran, Edward Reisinger
• Indexes: Resolution

Date	Ver.	Action By	Action	Result
10/27/2008	0	City Council	Introduced
10/27/2008	0	City Council	Advanced to 2nd Reader on same day
10/27/2008	0	City Council	Adopted

* WARNING: THIS IS AN UNOFFICIAL, INTRODUCTORY COPY OF THE BILL.
THE OFFICIAL COPY CONSIDERED BY THE CITY COUNCIL IS THE FIRST READER COPY.
INTRODUCTORY*

CITY OF BALTIMORE
COUNCIL BILL R
(Resolution)

Introduced by: Councilmember Middleton


A RESOLUTION ENTITLED

A COUNCIL RESOLUTION concerning
Title
Emergency Economic Stabilization Act of 2008 - Congressional Briefing

FOR the purpose of respectfully requesting the Baltimore City Congressional Delegation to the 110th Congress to brief the citizens of Baltimore City on the provisions of the Emergency Economic Stabilization Act that authorizes the Treasury Secretary to establish a Troubled Asset Relief Program (TARP) to purchase troubled assets from financial institutions, to explain how the President’s financial rescue plan will benefit members of the general public, and to assure taxpayers that their hard-earned money is not being used to line the pockets of executives who already have more than the average citizen.
Body
Recitals

In announcing the signing of the Emergency Economic Stabilization legislation, the President stated that the Administration is taking a series of steps to help American businesses and families and that the steps would “bring stability to our volatile markets, and help protect the value of Americans’ retirement accounts and 401ks – but it will take time for them to have their full effect.”

“Thawing the freeze in the financial system will unfold over several stages:

· The Treasury Department is now moving aggressively to implement the new authorities in the most effective way. The legislation ensures that these authorities will be ...