The re-introduced $700B Bailout plan was approved with a couple of additions. The most relevant are: The increase in the amount insured by the FDIC ($250,000 up from $100,000), a Child Tax Benefit Extension and a special assistance to victims of recent Hurricanes.
The main goal of the plan is to jump start lending among Financial Institutions and in exchange get an equity stake in the rescued Banks. This Diagram presents a very simplified view of the actual proposal but its main points are expressed in graphical form.
