Bailout

Congress Passes $700 Billion TARP Bailout Without Criminal Accountability Provisions

2008-10-03 00:00:00 +0000 UTC | Importance: 9/10

Congress passes the Emergency Economic Stabilization Act, creating the $700 billion Troubled Asset Relief Program (TARP) to bail out major financial institutions. Despite extensive evidence of widespread mortgage fraud, predatory lending, and securities violations that precipitated the crisis, the …

Henry Paulson Goldman Sachs JPMorgan Chase Bank of America Citigroup +3 more institutional-capture corruption financial-crisis bailout regulatory-capture +2 more

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

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