Bailout bill goes to the White House

President Bush delivers remarks during a meeting with representatives of American businesses on the Economic Rescue Package (Image: White House photo by Eric Draper)

The bailout bill passed in Congress -- what this could mean for the credit crunch and the housing crisis.

Congress has reversed itself and passed what's now called "economic rescue" plan -- 263 to 171 -- amid dismal news about employment and California's need for a big federal loan.

Saying that passage of the bill won't get us out of the recession, Republican leader John Boehner admitted that "it'll be a whole lot rougher ride if we don't pass this bill."

Democrat Nancy Pelosi, the House Speaker, acknowledged that in "my own state of California, officials -- including the governor -- are urgently calling for federal legislation to avoid economic catastrophe."

Will the bill resolve the credit crisis? Will taxpayers make money on a $700 billion investment? "To the Point" looks at what that could mean for the credit crunch and the crisis in housing.

Guests:
- Richard Rubin: Economics Reporter, CQPolitics.com
- Steven Davidoff: Professor, Connecticut School of Law
- Robert Reich: former Secretary of Labor

Hosted by award-winning journalist Warren Olney, "To the Point" presents informative and thought-provoking discussion of major news stories — front-page issues that attract a savvy and serious news audience.

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