日批在线视频_内射毛片内射国产夫妻_亚洲三级小视频_在线观看亚洲大片短视频_女性向h片资源在线观看_亚洲最大网

   

More government bailouts may be on way

(Agencies)
Updated: 2008-03-27 17:15

Controversy still swirls around some earlier big bailouts.

In the 1980s and 1990s, more than 1,000 savings and loan institutions failed, leading to a federal bailout totaling roughly $125 billion.

The 1998 collapse of hedge fund Long-Term Capital Management, amid the Asian financial crisis, rocked Wall Street and prompted the Federal Reserve to help arrange a $3.6 billion private bailout.

Special coverage:
Subprime Crisis Aftermath
Related readings:
 Weak dollar costs US economy  world No 1 spot
 Bush: US economy in tough time
 JPMorgan to raise offer for Bear Stearns
 Lewis takes $1b hit from Bear Stearns
In 1975, President Ford first ignored pleas from a struggling New York City for help but later relented with a $7 billion loan package. President Clinton came to Mexico's aid in 1995 after a sharp devaluation of the peso, persuading countries and banks to lend the country $50 billion.

Congress bailed out what was then known as Lockheed Aircraft in 1971 and Chrysler in 1979 with loan guarantees. In 1984, the failing bank Continental Illinois was effectively taken over by the federal government.

After the Sept. 11, 2001, terror attacks, Congress quickly authorized $5 billion in cash to help shore up the airline industry and followed up with $10 billion in loan guarantees. It set up a compensation fund for victims of the attacks.

While complaints of unfairness can always be raised, government bailouts can generally be defended when the government's failure to act could have dire consequences on society or the nation's financial system, said William Galston, a former domestic policy adviser to President Clinton and now a senior fellow at Washington's Brookings Institution.

"Sometimes, you have to act in a very broad way, a way that's not very sensitive to the distinction between the innocent and the guilty, in order to bring about a broader public good. And then you sort it out later if you can," Galston said.

Even President Bush seems torn between not interfering with market forces and wanting to keep the financial crisis from deepening.

On March 14, he inveighed against government bailouts. "The temptation of Washington is to say that anything short of a massive government intervention in the housing market amounts to inaction. I strongly disagree with that sentiment," he told the Economic Club of New York. "I believe there ought to be action. But I'm deeply concerned about law and regulation that will make it harder for the markets to recover."

But, a week later, Bush applauded the series of dramatic government interventions undertaken by Fed Chairman Ben Bernanke and Treasury Secretary Henry Paulson, claiming they had "acted swiftly to promote stability in our financial markets at a crucial time." He even thanked Bernanke for "working over the weekend."

   1 2   


Top World News  
Today's Top News  
Most Commented/Read Stories in 48 Hours
主站蜘蛛池模板: 色婷婷亚洲综合 | 清清草在线视频 | 天堂影院av| 午夜小视频在线观看 | 色月丁香 | 成人av免费观看 | 色婷在线 | 欧美三级日本三级 | 伊是香蕉大人久久 | 亚洲国产精品久久 | 国产成人高清 | 亚洲色图欧美 | 精品国产免费人成在线观看 | 免费黄色在线视频 | 日韩欧美在线观看视频 | 亚洲免费视频观看 | 国产激情视频在线观看 | 日韩中文字幕一区二区 | 国产激情影院 | 国产精品三级视频 | 亚洲一级网站 | 成人在线观看免费高清 | 亚洲精品久久久久 | 在线观看成人 | 蜜桃视频网站在线观看 | 18久久 | 黄色av国产 | 视频在线一区二区 | 一区二区三区中文字幕 | 人人澡人人干 | 国产又黄又硬又粗 | 日韩黄视频| 精品国产中文字幕 | 黄色一级黄色片 | 免费福利在线视频 | 日本在线视频一区二区 | 成人免费在线视频网站 | 在线免费观看黄色av | 蜜桃精品噜噜噜成人av | 国产福利一区二区 | 色欧美片视频在线观看 |