The Bailout

October 6, 2008, meeting topic: 

The Bailout, a review of the $700,000,000,000 "rescue plan" by the federal government of the US financial industry

Was this action needed or should the industry have found another way to resolve the problem?
Are the taxpayers protected?
Why are foreign financial institutions benefiting from the act?  Are they?
Where will the US get the money to fund the act?
Why was the amount $700 billion selected?
Is the act an example of Socialism?

This American Life (radio): Another Frightening Show About the Economy

L.A. Times: Schwarzenegger to U.S.: State may need $7-billion loan