On Oct. 3, President Bush signed into law the Emergency Economic Stabilization Act of 2008, an unprecedented $700 billion economic bailout plan for the financial system. Busy nonprofit staffers, like most Americans, staggered by their Sept. 3 401(k) and 403(b) statements, are bracing for more bad news when their Dec. 31 updates arrive and wondering how did this happen and what's it all about?
Thomas Dillman, Executive Vice President of Mutual of America Capital Management Corporation, takes an inside look at the tumultuous events that led to this historic bill and what it means for the U.S. economy and Americans in the near future. His description: It's an "unparalleled mess." Click here to read his analysis.