the.com/bailout
the moment when too big to fail meets too connected to jail
means A rescue of a failing person, company, or government by providing money to keep them from collapse.
from A compound of 'bail' plus 'out,' and the 'bail' here is the nautical one — from Old French 'baille,' a bucket, related to medieval Latin 'bajula' (a water-carrier). To 'bail out' a sinking boat is to scoop the water over the side before it drowns you. The financial sense — scooping money in to keep an enterprise afloat — is a 20th-century American extension of that image, and shares no root with the courtroom 'bail' (that one comes from Latin 'bajulare,' to bear or take charge of).
- 2008 tab
- US committed over 700 billion to rescue banks
- origin
- term comes from emptying water out of boats
- AIG payback
- taxpayers eventually profited about 23 billion
- first big one
- Chrysler got 1.5 billion guarantee in 1979
- prison rate
- almost no executives jailed after the crash
tarp financial crisis 2008 — us government $700 billion program to stabilize banks and financial institutions during the great recession
auto industry bailout 2008 — us government provided $80.7 billion to gm, ford, and chrysler to prevent collapse
aig bailout 2008 — us federal reserve extended $182 billion credit line to insurance giant aig after near-collapse
greek debt bailout 2010 — imf and european union provided €110 billion rescue package to prevent greece's default