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The History of US Government Financial Bailouts

100 Years of Government Bailouts

by Kathy Gill
for About.com

The 2008 financial market meltdown is not a solo event, although its magnitude marks it for the history books. It's the latest in a series of financial crises where businesses (or government entities) turn to Uncle Sam to save the day.
  • 1907 : Run On Trusts - The last days of deregulation
  • 1929 : Stock Market Crash and Great Depression - Although the stock market crash did not, by itself, cause the Great Depression, it contributed.
  • 1971 : Lockheed Aircraft is pinched by Rolls Royce bankruptcy.
  • 1975 : President Ford says 'no' to NYC
  • 1979 : Chrysler - US government backs loans made by private banks, in order to save jobs
  • 1986 : Savings and Loans failed by the 100s after deregulation
  • 2008 : Fannie Mae and Freddie Mac enter downward spiral
  • 2008 : AIG turns to Uncle Sam in wake of secondary mortgage crisis
  • 2008 : President Bush calls on Congress to pass a $700 billion financial services bailout

Images 1-6 of 6

J.P. MorganThe Panic of 1907Destitute pea pickers, LOC; Photographer: Dorothea LangeStock Market Crash of 1929 Lockheed F22 RaptorThe Lockheed BailoutLower Manhatten, 15 August 2008New York City Bailout
Chrysler vehicle sits in showroom, 2008.The Chrysler BailoutLocked OutThe Savings and Loan Bailout
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