When the feds do bail out the financial system, what will they do to ensure that they aren't also bailing out the people who got us into this mess?

News Type: Opinion — Seeded on Mon Mar 17, 2008 2:57 AM EDT

Article Source: The New York Times

business, economy, bailout, federal-reserve, stocks, fed, financial-markets, bear-stearns, jp-morgan

The U.S. savings and loan crisis of the 1980s ended up costing taxpayers 3.2 percent of G.D.P., the equivalent of $450 billion today. Some estimates put the fiscal cost of Japan's post-bubble cleanup at more than 20 percent of G.D.P. — the equivalent of $3 trillion for the United States.

If these numbers shock you, they should. But the big bailout is coming. The only question is how well it will be managed.

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spiffie

How well will it be managed? Seriously? Time to head for the hills, folks.

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1 vote

#1 - Mon Mar 17, 2008 3:02 AM EDT

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The B Word	The New York Times	Mon Mar 17	5
Fed rescue of Bear Stearns raises specter of Depression-era crash	World Socialist Web Site	Sat Mar 15	2
After the Bear Stearns bailout: Fears of more Wall Street failures	World Socialist Web Site	Mon Mar 17	8
Fed Races to Rescue Bear Stearns In Bid to Steady Financial System - WSJ.com	Wall Street Journal	Sun Mar 16	0
Fed and Rival Bail Out Bear Stearns	Associated Press	Fri Mar 14	0

SPIFFIE

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When the feds do bail out the financial system, what will they do to ensure that they aren't also bailing out the people who got us into this mess?

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