700 billion bailout plan details

Question:
Give me detail of 700 Billion Bailout Plan.

Answer:
Bailout of the U.S. financial system is reffered as Emergency Economic Stabilization Act of 2008 is a law against sub prime 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.

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