Category: Bailouts

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

11 Responses to “History of Bailouts”

  1. franklin411 says:

    Thanks for the link…I’m aggregating these for my lecture (not till early September) on bailouts/free market fundamentalism. I find I spent 2/3 of my time trolling for photos and such for powerpoint, so this is a great help!

  2. Pat G. says:

    Of the 13 bailouts listed on the chart, 5 went to banks, 3 went to autos and 2 went to airlines or 77%. These are the same sectors having problems today.

    Of the 13 bailouts, 5 have resulted in a positive outcome, 2 a negative outcome and 6 outcomes or nearly 50% are still undecided. That would be due to those six happening within the last year.

    Between 1970 and 2000, 6 bailouts occured for an average of 1 every 5 years.
    Between 2001 and 2008, 7 bailouts occured for an average of about 1 per year.

    So I ask you, is the pace of bailouts quickening? Does it appear that we continue to bailout the same sectors/bad actors over and over again? So, what has changed? What have we learned? Apparently, nothing. Has the USG been consistently this stupid for the last 4 decades? I think there’s more to it… and so should you.

  3. Christopher says:

    So who is going to bail US out?

  4. going broke says:

    @ Pat G.

    I think you know the answer to your Q’s.

    It’s all about the $, the good ol’ boys network, who can grab more than the next guy!

    About 15 or so years ago, the jobs I did under contract for the Govt. took about 2-3 weeks to finish, with no exceptions and the paperwork was mailed in. I had 1 boss.

    Now, the govt delay’s the jobs for weeks and weeks (because of allocated funds, proper paperwork, whatever). When we finally travel to the new job, the work package is not there about 50% of the time. When it does arrive, it’s almost always wrong so we have to do the re-engineering on the fly. The materials onsite are 20%+ over-bought so we just leave the unused material in a corner somewhere (it’s against the law to take GFM offsite, or to another job to be used, …stupid!). I spend about 2 hours each day on the computer filling out duplicate forms, test results, time, etc… to send everywhere. The same jobs we do now take about 2 months+, they’re not 100% finished and now I have 3 or 4 bosses, depending what region I working in. About those bosses… most are retired govt.

    IMO, until the Govt. employs people that will actually do the jobs they were hired for, and held accountable for their performance, it’s only going to get worse. Unless a Govt. worker kills someone or just stops going to work, they’ll have a job forever.

  5. Christopher says:

    “free market fundamentalism” how Obama has cut a deal with with Big Pharma that bars price negotiations as part of the current healthcare reform bill.

    “Free market” as long as doesn’t cut into my campaign contributor’s profit margins.

  6. pk7689 says:

    So I guess that we aren’t calling allowing the Investement Banks like GS to convert to Become a Bank Holding Company and borrow at 0.25% a bailout?

    And FDIC backing bonds don’t count either?
    Why weren’t banks required to buy back these bonds and issueng ones back before paying back the TARP program? Still not strong enough to survive on thier own?

    There’s not eonough space to get int oall of the FED’s alphabet soup…

  7. some_guy_in_a_cube says:

    Proves that capitalism could not survive without socialism (of the corporate variety).

  8. jc says:

    The magnitude of the current deals is mind numbing and F&F are certainly going to need more.CITI and AIG mad reckless bets that the US volunteered to cover for them, sweet!

  9. JoWriter says:

    As I looked at that chart, I wondered what the definition of “positive” outcome was?

    Also, I noted most bailouts were transportation-related. Haven’t figured out the link, except my usual – highly-regulated oligopolies are very fragile, economically speaking. But isn’t it interesting that these bailouts are non-partisan?

    Also, these bailouts have the result of creating even fewer, and ever larger, companies in whatever industry they are “rescuing.”

    BTW, the Obama administration’s antitrust division is getting tough with agricultural companies. So, the few large banks, insurance and auto companies don’t fit their definition of dangerous concentration? Isn’t TBTF, almost by definition, a monopoly, subject to antitrust prosecution?

  10. [...] A graphical history of US bailouts.  (Big Picture) [...]

  11. patient renter says:

    It’s a nice graphic, but I’m pretty sure it’s missing several other bailouts – and if you include bailouts of foreign countries via the IMF, World Bank or the Fed (mostly or entirely funded by US taxpayers or the US dolloar), there are numerous others that need to be in there.

    The Creature from Jekyll Island provides a better history.