A Graphic Look at the State of Our Economy
It's been a year since the U.S. economy practically went to Hades in a handbasket, and since then the federal government sure has been busy trying to figure out where to allocate (read: throw) money to sort out the whole mess.
It’s been a year since the U.S. economy practically went to Hades in a handbasket, and since then the federal government sure has been busy trying to figure out where to allocate (read: throw) money to sort out the whole mess. Luckily, The New York Times has put together a handy graphic to help us all make sense of some of the bigger moments and movements in recent bailout history. –KA
Rock Solid JournalismThe New York Times:
Capital for Financial Firms
$290 Billion
In return for bailout cash, the Treasury now owns stock in hundreds of banks. The largest recipients are Bank of America ($45 billion) and Citigroup ($45 billion). Dozens of banks have returned these funds — $70.6 billion as of Sept. 11.
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Lessons learned from the 2008 financial crisis show that taxpayer-funded blank checks to institutions do nothing to help those struggling
If the president wants the federal government to be able to borrow cheaply, there are far better options than negative interest rates.
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