Bailout

To address the deepening banking crisis, US Treasury Secretary, and investment bank Goldman Sachs former Chief Executive, Henry Paulson proposed $700 000 000 000 in spending authority to buy troubled assets from banks and finance companies, possibly worldwide, with very little oversight or review. The ensuing storm of protest against bailing out Wall Street bankers caused most House representatives in tight election races and conservative House Republicans to vote against the bill. In the panic, folks have given very little attention to alternatives.

Government Bailout History

1. 2008: Automaker Bailout - $14 Billion
2. 2008: Citigroup - $247.5 Billion
3. 2008: Wallstreet Bailout - $700 Billion
4. 2008: AIG - $150 Billion
5. 2008: Fannie And Freddie Bailout - $200 Billion
6. 2008: Bear Stearns - $30 Billion
7. 2001: Airline Industry - $18.6 Billion
8. 1989: Savings and Loan Bailout - $293.3 Billion
9. 1984: Continental Illinois Bank Bailout - $9.5 Billion
10. 1980: Chrysler - $4.0 Billion
11. 1975: New York City - $9.4 Billion
12. 1974: Franklin National Bank - $7.8 Billion
13. 1971: Lockheed Martin - $1.4 Billion
14. 1970: Penn Central Railroad - $3.2 Billion ¹

Related Pages on Mahalo

Mortgage Bailout Plan | Subprime Mortgage Bailout | Fannie And Freddie Bailout | AIG Bailout | Citigroup Bailout

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