Bank Bailouts Far Cheaper Than Expected
Posted: Tue Mar 01, 2011 12:08 amBank Bailouts Far Cheaper Than Expected
Nearly three years after a series of government bailouts began, the Los Angeles Times reports that expected losses from the $700-billion Troubled Asset Relief Program will be just $25 billion -- far less than the $341 billion estimated in mid-2009.
"There is now broad agreement that the bailouts worked, stabilizing the financial system and preventing an even deeper crisis. Still, many people are worried about the long-term effects of the government actions. They said that in demonstrating a belief that some companies were too big to fail, the government set a dangerous precedent, opening the door to future crises."
http://politicalwire.com/archives/2011/ ... ected.html
Nearly three years after a series of government bailouts began, the Los Angeles Times reports that expected losses from the $700-billion Troubled Asset Relief Program will be just $25 billion -- far less than the $341 billion estimated in mid-2009.
"There is now broad agreement that the bailouts worked, stabilizing the financial system and preventing an even deeper crisis. Still, many people are worried about the long-term effects of the government actions. They said that in demonstrating a belief that some companies were too big to fail, the government set a dangerous precedent, opening the door to future crises."
http://politicalwire.com/archives/2011/ ... ected.html