Tuesday, June 30, 2009
A History of Bailouts
Reading about the legacy of Reagan, I was surprised by the size if the Savings & Loan bailout: Dallek places the amount at $500 billion. I decided to look into the number. Wikipedia, my first source, claims the bailout involved $125 billion in government assistance. Delving deeper, Propublica has a fantastic History of U.S. Government Bailouts. Propublica states that, adjusted to inflation, S&L Bailout cost $293.3 Billion (in 2008 US dollars).
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1 comment:
Likely not at all relevant but I don't feel like putting it in a separate posts. Are Republicans purposefully incompetent? According to Thomas Frank in the Wall Street Journal, you bet they are!
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