the $1.8 trillion bailout

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The infamous Wall Street bailouts now total $1.8 trillion, making them a deeper money pit than Bush's Iraq debacle. Check out this nice graph of US bailouts (h/t: Lindsay Beyerstein at Majikthise) from 1970 to the present:

20080922-bailouts.jpg

The enormous magenta circle represents the 1989 S&L bailout, and the four to its right are all Bush-era bailouts:

• Airline Industry, 2001 ($18.6 billion)
• Bear Stearns, 2008 ($30 billion)
• Fannie Mae / Freddie Mac, 2008 ($200 billion)
• AIG, 2008 ($85 billion)

There appears to be additional turbulence ahead, so please keep your seatbelts fastened and your trays in their fully upright position.

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This page contains a single entry by cognitivedissident published on September 22, 2008 12:00 PM.

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