Bailout Price Tags Since 1971


	Bailout Price Tags Since 1971

Andrew Gillies

10-10-2008 9:04 AM

659 views

Andrew Gillies says:

A nice breakdown from the National Journal. Since 2001, the federal government's private sector bailouts add up to $1,032.4 billion. In the prior thirty years: $248.1 billion.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/e527e3d5-a099-4ef3-902c-8ca634964005/C203E8D0-B4CE-4F7D-A622-7316F116AC37/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.nationaljournal.com/njmagazine/cs_20081011_9857.php" href="http://www.nationaljournal.com/njmagazine/cs_20081011_9857.php" style="font-size: 11px;">www.nationaljournal.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nationaljournal.com/njmagazine/cs_20081011_9857.php"><H2>Financial Bailouts, Past and Present</H2></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nationaljournal.com/njmagazine/cs_20081011_9857.php"><P><STRONG>THEN ... </STRONG>Government bailouts of the 1970s and '80s were relatively small in scale until the S&L crisis prompted Congress to establish the Resolution Trust Corp. to buy up bad assets and bring a fix to the ailing thrift sector.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nationaljournal.com/njmagazine/cs_20081011_9857.php"><P><STRONG> ... and NOW ...</STRONG> Recent rescue plans have a total price tag of more than $1 trillion, a level well beyond any previous attempt by the government to intervene in the private sector to alleviate an economic crisis.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nationaljournal.com/njmagazine/cs_20081011_9857.php"><PRE>Year              Entity              Federal Commitment (in 2008 dollars) 
1971              Lockheed            $1.4 billion
1974              Penn Central        $9.1 billion
1975              New York City       $9.4 billion
1978              New York City       $5.5 billion
1980              Chrysler            $4.0 billion
1989              S&L failures      $218.7 billion*
2001              Airline industry   $18.6 billion
March 14, 2008    Bear Stearns       $28.8 billion
Sept. 7, 2008     Fannie Mae/         $200 billion
                  Freddie Mac
Sept. 16, 2008    AIG                  $85 billion
Oct. 3, 2008      Financial system    $700 billion
                  rescue</PRE></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nationaljournal.com/njmagazine/cs_20081011_9857.php">*Estimated final cost to Treasury.</blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/C203E8D0-B4CE-4F7D-A622-7316F116AC37/blog/" title="blog or email this clip"><img src="http://content9.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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