The bank bail-out: Crisis mismanagement

Posted: October 26, 2012 in economy
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The man who must change China

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The bank bail-out


How America bailed out the banks rather than its citizens

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A full-time occupation

A full-time occupation

Bailout: An Inside Account of How Washington Abandoned Main Street While Rescuing Wall Street. By Neil Barofsky. Simon and Schuster; 271 pages; $26. Free Press; £18.99. Buy from,
Bull by the Horns: Fighting to Save Main Street From Wall Street and Wall Street from Itself. By Sheila Bair. Simon and Schuster; 415 pages; $26.99. Buy from
IN JULY 2008 the Federal Deposit Insurance Corporation (FDIC) closed IndyMac, a Californian lender. Anyone who had more than $100,000 in savings suffered heavy losses, including a woman who had just deposited her son’s life- insurance benefits after he was killed in Afghanistan. Later that year the government insisted that derivatives contracts sold by AIG, the failed insurer, would be honoured …

via Economic Crisis


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