A Bailout Is Just a Start
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This is an opinion item.
| Author(s) | Lawrence Summers |
|---|---|
| Source | The Washington Post |
| Date | September 29, 2008 |
| URL | http://www.washingtonpost.com/wp-dyn/content/article/2008/09/28/AR2008092802232.html |
| Quote | "The Chrysler bailout, President Bill Clinton's emergency loans to Mexico and the Depression-era support programs for the housing and financial sectors all ultimately made profits for taxpayers. While the savings and loan bailout through the Resolution Trust Corp. was costly, this reflected enormous losses exceeding the capacity of federal deposit insurance. The head of the FDIC has offered assurances that nothing similar will be necessary this time."
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This item argues for the position United States should bail out the banking industry on the topic Economic crisis of 2008.
