Bailout

Paulson Authorizes AIG Bailout Benefiting Goldman Sachs

2008-09-19 00:00:00 +0000 UTC | Importance: 9/10

The U.S. government authorized an $85 billion bailout of American International Group (AIG), with Goldman Sachs receiving $12.9 billion—the largest individual payout. Treasury Secretary Henry Paulson, a former Goldman Sachs CEO, played a central role in the decision, despite significant conflicts of …

Henry Paulson Lloyd Blankfein Don Jester financial-capture bailout wall-street regulatory-failure banking-crisis

Federal Reserve Provides $85 Billion Emergency Loan to AIG, Eventually Growing to $182 Billion in Total Taxpayer Commitments to Bail Out Insurance Giant That Gambled on Credit Default Swaps, Followed by $165 Million in Executive Bonuses Paid to Employees Who Caused the Crisis

2008-09-16 00:00:00 +0000 UTC | Importance: 10/10

On September 16, 2008, just one day after allowing Lehman Brothers to file for bankruptcy, the Federal Reserve provided an $85 billion two-year emergency loan to American International Group (AIG) to prevent the insurance giant’s collapse and contain spreading financial contagion. In exchange …

American International Group Federal Reserve Ben Bernanke Timothy Geithner Henry Paulson +2 more financial-crisis bailout too-big-to-fail regulatory-capture executive-compensation +1 more

Fannie Mae and Freddie Mac Placed in Federal Conservatorship, $187 Billion Taxpayer Bailout

2008-09-07 00:00:00 +0000 UTC | Importance: 9/10

Treasury Secretary Henry Paulson announces that Fannie Mae and Freddie Mac, the government-sponsored enterprises backing $5 trillion in home mortgages, will be placed into conservatorship under the newly created Federal Housing Finance Agency. The seizure represents the largest government …

Treasury Department Henry Paulson Federal Housing Finance Agency Fannie Mae Freddie Mac +2 more housing-crisis bailout gse-failure taxpayer-cost housing

Bear Stearns Collapse and Federal Reserve-Facilitated Fire Sale to JPMorgan with $29 Billion Taxpayer Guarantee Establishes 'Too Big to Fail' Precedent with Zero Criminal Prosecutions Despite Fraud-Driven Collapse

2008-03-16 00:00:00 +0000 UTC | Importance: 10/10

Bear Stearns, the fifth-largest investment bank in the United States with $400 billion in reported consolidated assets, collapsed in March 2008 after its liquidity pool plummeted from $18.1 billion on March 10 to just $2 billion on March 13. The firm had leveraged its capital up to 35 …

Bear Stearns JPMorgan Chase Federal Reserve Bank of New York Ben Bernanke Timothy Geithner +2 more financial-crisis regulatory-capture too-big-to-fail bailout accountability-crisis

Federal Reserve Orchestrates $3.6 Billion Bailout of Long-Term Capital Management to Prevent Systemic Collapse

1998-09-23 00:00:00 +0000 UTC | Importance: 10/10

On September 23, 1998, Federal Reserve Bank of New York President William McDonough orchestrated a $3.6 billion bailout of hedge fund Long-Term Capital Management (LTCM) by convincing 14 major banks and brokerage firms to inject capital in exchange for 90% ownership of the failing fund. Founded by …

William McDonough Alan Greenspan John Meriwether Long-Term Capital Management Federal Reserve Bank of New York financial-crime regulatory-capture federal reserve bailout systemic-risk +3 more

FIRREA Signed: $160 Billion Taxpayer Bailout of S&L Industry Fraud

1989-08-09 00:00:00 +0000 UTC | Importance: 9/10

President George H.W. Bush signs the Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA), authorizing a $160.1 billion taxpayer bailout of the savings and loan industry—with $132 billion coming directly from taxpayers through higher taxes and fees. The legislation creates the …

George H.W. Bush Congress Resolution Trust Corporation Federal Deposit Insurance Corporation s&l-crisis firrea bailout taxpayers deregulation-failure +1 more