Quote:
Originally Posted by Air&Road
Aklim,
That's the problem. We are already down the line with this. It doesn't take very many getting bailed out until we get to the "too big to fail" mentality.
In my lifetime it seemed to START with Chrysler and Jimmy Carter. Once that precedent was set, the door was open. That was the first bailing the kid out of jail. Once he learned he could party down with no consequences, it was all over with.
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Unless you were born in 1980, you might be a touch off on the inception of bailouts during your lifetime. For convenience sake, let's start at 1970:
Penn Central Railroad - 1970 - Who was the U.S. President at the time?
Lockheed - 1971 - Who was the U.S President at the time?
Franklin National Bank - 1974 - Who was the U.S. President at the time?
New York City - 1975 - Who was the U.S. President at the time?
Chrysler - 1980 - That Damn Spendthrift Peanut Farmer!