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● Bear Stearns 2008
JP Morgan Chase and the federal government bailed out Bear Stearns when the financial giant neared collapse. JP Morgan purchased Bear Stearns for $ 236 million; the Federal Reserve provided a $ 30 billion credit line to ensure the sale could move forward. $ 30 billion
● Fannie Mae / Freddie Mac 2008
The near collapse of two of the nation’s largest housing finance entities was yet another symptom of the subprime mortgage and housing market crisis. In an effort to prevent further turmoil within the financial market, the U.S. government seized control of Fannie Mae and Freddie Mac and guaranteed up to $ 100 billion for each company to ensure they would not fall into bankruptcy. $ 200 billion
● American International Group (A.I.G.) 2008
When AIG was unable to secure a private-sector loan, the federal government intervened by seizing control of the insurance giant. Less than one month after the initial bailout and just days after AIG announced it had already drawn down $ 61 billion of its loan, the Fed stepped in with an additional $ 37.8 billion to bolster AIG’s securities lending business. In November, with the insurance giant continuing to report heavy losses, the Feds revised the terms of the bailout and purchased $ 40 billion in AIG preferred shares. $ 150 billion
● Auto Industry 2008
In late September 2008, Congress approved a more than $ 630 billion spending bill, which included a measure for $ 25 billion in loans to the auto industry. These low-interest loans are intended to aid the industry in its push to build more fuel-efficient, environmentally-friendly vehicles. The Detroit 3 — General Motors, Ford and Chrysler — will be the primary beneficiaries. $ 25 billion
● Troubled Asset Relief Program 2008
The Bush administration has proposed a rescue plan to ease the current crisis on Wall Street. If approved by Congress, the Treasury Department will be authorized to purchase up to $ 700 billion of distressed mortgage-backed securities and other assets and then resell the mortgages to investors. $ 700 billion
http://www.propublica.org/special/government-bailouts

4 Thoughts on If you do the same thing over and over, yet expect a different result – is that a sign of INSANITY?
  1. Reply
    frm7716
    May 18, 2011 at 12:48 pm

    Or stupidity!

  2. Reply
    Hey there
    May 18, 2011 at 12:54 pm

    It’s always been easy to spend someone elses money to make yourself look good.

  3. Reply
    The Beast
    May 18, 2011 at 1:50 pm

    the real problem here is that nobody is allowing markets to do what they do best, which is function. everyone is looking for the bandage to prevent the blood flow instead of letting a few of these greedy incompetent organizations bleed out. as long as we refuse to acknowledge the problem, throwing money at it won’t do anything but perpetuate the flawed system.

  4. Reply
    Chupate esa!
    May 18, 2011 at 1:53 pm

    The result is still yet to be seen and they expect the same result in all counts.

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