2008 Wall Street bailout
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If you include the Citibank bailout, the total bailout cost now (2008-11-27) exceeds $4.6165 trillion. This is bigger than all of these prior historic government outlays combined, in inflation-adjusted dollars:
| Project | contemporary billion$ | 2008 billion$ |
|---|---|---|
| Marshall Plan | $12.7 | $115 |
| Louisiana Purchase | < $0.1 | $217 |
| Race to the Moon | $36.4 | $237 |
| S&L Crisis | $153 | $256 |
| Korean War | $54 | $454 |
| The New Deal | ~$32 | ~$500 |
| Invasion of Iraq | $551 | $597 |
| Vietnam War | $111 | $698 |
| NASA | $417 | $852 |
| Total: | $3926 |
Source: Bianco Research, via Barry Ritholtz, via Contrary Brin
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- 2009-07-19 :more:talk: Too Big To Think About § “I don't think I was alone in finding it shockingly arrogant for Goldman Sachs to announce their insane bonuses last week. Trumpeting such a thing in the midst of this horrific economy is beyond poor taste.” more...
- 2008-12-22 :more:talk: Madoff as Metaphor § “The puzzle is to explain the "cluster of errors" that appears at the beginning of a recession. How could so many have been so wrong about so much at the same time? The business cycle is a system-wide failure, not merely the mistaken judgment of a few.” more...
- 2008-11-25 :more:talk: Big Bailouts, Bigger Bucks § “The current Credit Crisis bailout is now the largest outlay in American history”, even when earlier outlays are adjusted for inflation. more...
- 2008-10-06 :more:talk: Lehman's Golden Parachutes Were Being Secured While Execs Were Pleading For Federal Rescue § “The now-bankrupt investment bank Lehman Brothers arranged millions in bonuses for fired executives as it pleaded for a federal lifeline, lawmakers learned Monday, as [[110th US Congress|Con more...
- 2008-10-02 :more:talk: Congressman Brad Sherman: Martial Law if We Voted No § “A few Members were even told that there would be martial law in America if we voted "no."” more...
- 2008-09-28 :more:talk: Lost credibility leads to lost leadership § Which has led over the last week to a standoff that once would have been difficult to conceive: the president sounding the alarm, declaring the emergency, warning of apocalyptic fiscal consequences if immediate action is not taken, and lawmakers of both parties ignoring him... more...
