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Thread: Historical Perspective

  1. #1

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    Default Historical Perspective

    From: http://biz.yahoo.com/ap/080926/financial_rescues_list.html?.v=2


    AP
    List of government bailouts over the past century
    Friday September 26, 4:40 pm ET
    By The Associated Press





    List of government bailouts in past century includes banks, corporations and industries


    A look at some U.S. government interventions and bailouts in the past century:

    1932 -- The Hoover administration creates the Reconstruction Finance Corp. to facilitate economic activity by lending money.


    1933 -- The Roosevelt administration creates the Home Owners' Loan Corp. to buy $3 billion in bad mortgages from banks and refinance them to homeowners to stem a rise in foreclosures. The government makes a small profit.


    1971 -- Congress saves Lockheed Aircraft Corp., the nation's biggest defense contractor, from bankruptcy by guaranteeing the repayment of $250 million in bank loans.


    1979 -- Congress and the Carter administration arrange for $1.2 billion in subsidized loans to bail out automaker Chrysler Corp., then the nation's 10th-largest company. There was no significant cost to the government in the end since the loans were repaid.


    1984 -- Congress effectively takes over the ailing Continental Illinois National Bank and Trust, which failed with $40 billion of assets. The Federal Deposit Insurance Corp. injects $4.5 billion to buy bad loans.


    1989 -- Congress establishes the Resolution Trust Corp. to take over bad assets and make depositors whole. Resolving the S&L crisis takes six years and $125 billion in taxpayer money -- roughly equal to $200 billion in today's dollars.


    1998 -- The government brokers a $3.6 billion private bailout in the collapse of the Long-Term Capital Management hedge fund, although no government money is involved.


    2001 -- Congress authorizes $5 billion in cash after the Sept. 11 terror attacks to help shore up the airline industry and follows up with $10 billion in loan guarantees.




    2008:


    March 16 -- The Federal Reserve agrees to guarantee $29 billion of Bear Stearns' assets in connection with the government-sponsored sale of the investment bank to JPMorgan Chase & Co.


    July 11 -- Federal regulators seize IndyMac Bank's assets after the mortgage lender succumbs to the pressures of tighter credit, falling home prices and rising foreclosures. The Federal Deposit Insurance Corp. says it will cost about $8.9 billion out of its $53 billion insurance fund.


    Sept. 7 -- The Treasury Department seizes teetering mortgage finance institutions Fannie Mae and Freddie Mac, temporarily putting them in a government conservatorship with plans to inject up to $100 billion into each.


    Sept. 16 -- The government announces an $85 billion emergency loan to rescue American International Group Inc., a major insurance company, in return for a 79.9 percent stake.


    Sept. 19 -- The Bush administration proposes a plan to let the government buy $700 billion of bad mortgages and other forms of toxic debt that have been weighing down U.S. financial companies. Government officials and lawmakers were still scrambling to put a deal together a week later.


    Sept. 25 -- The Federal Deposit Insurance Corp. seizes Washington Mutual Inc. -- the largest bank to fail by far in the U.S. -- and sells the deposits and banking assets to JPMorgan Chase & Co. for $1.9 billion.

    Link: http://biz.yahoo.com/ap/080926/finan...list.html?.v=2


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  3. #2

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    Default Re: Historical Perspective

    List of Bank Failures for 2008, so far to date:

    http://www.fdic.gov/bank/individual/failed/banklist.html





    Failed Bank List
    The FDIC is often appointed as receiver for failed banks. This page contains useful information for the customers and vendors of these banks. This includes information on the acquiring bank (if applicable), how your accounts and loans are affected, and how vendors can file claims against the receivership.

    This list includes banks which have failed since September 1, 2007 (last year).

    Washington Mutual Bank, Henderson, NV and Washington Mutual Bank FSB, Park City, UT

    Ameribank, Northfork, WV


    Silver State Bank, Henderson, NV
    En Español


    Integrity Bank, Alpharetta, GA


    The Columbian Bank and Trust, Topeka, KS

    First Priority Bank, Bradenton, FL

    First Heritage Bank, NA, Newport Beach, CA

    First National Bank of Nevada, Reno, NV

    IndyMac Bank, Pasadena, CA

    First Integrity Bank, NA, Staples, MN

    ANB Financial, NA, Bentonville, AR

    Hume Bank, Hume, MO

    Douglass National Bank, Kansas City, MO

    Miami Valley Bank, Lakeview, OH

    NetBank, Alpharetta, GA

    Metropolitan Savings Bank, Pittsburgh, PA

    Last edited by James48843; 09-26-2008 at 05:55 PM.

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  5. #3

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    Default Re: Historical Perspective

    Check out here for the list of Banks, Credit Unions, and Savings and Loan failures:

    http://bankimplode.com/

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    Default Re: Historical Perspective

    Old thread but current topics...60 minutes' Croft did a good piece on the lack of prosecutions of Wall Street bankers. At least they brought up the topic again. 1,000 ought to be in prison but he was asking for only one. Also on the subject of history, CNBC this morning had an interesting discussion of the similarity between the 2012 and 1948 elections with Harry saying similar things to today. One comment was that P/E ratios went to 7 after.

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    Default Re: Historical Perspective

    Quote Originally Posted by Warrenlm View Post
    Old thread but current topics...60 minutes' Croft did a good piece on the lack of prosecutions of Wall Street bankers. At least they brought up the topic again. 1,000 ought to be in prison but he was asking for only one. Also on the subject of history, CNBC this morning had an interesting discussion of the similarity between the 2012 and 1948 elections with Harry saying similar things to today. One comment was that P/E ratios went to 7 after.
    Time to get out the pitchforks and torches!!

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