The Government Bailout was an initiative that was set forth when the economic collapse had occurred regarding the United States, and subsequently the entirety of the world’s economic market. When the economy collapsed in the United States, the nation looked to the President and the Government to find a way to assist in this particular crisis.
One of the ways in which the government thought to rectify the economic collapse was to institute a bailout. A bailout would provide a substantial amount of money to various businesses and important endeavors in the nation, in order to keep the businesses functioning and to make sure the economy had some substance in order to continue to build up.
Essentially what happened was after much debate from the Senate about the bailout bill, and whether or not it would be detrimental to the government or if it would be helpful, the senate had to do a bailout vote. The bill that was brought forth to the senate was for 26.1 billion dollars. The senate bailout vote was another one of the most debated and largely anticipated votes that the nation had to wait on. In the end, the senate bailout vote was approved, and the money was allocated to a number of different businesses and government programs.
In order for this to occur, the senate bailout vote had to have a two-thirds majority come from the senate, in regards to the affirmation of this particular bill.