I'd make a correction to the paragraph about the S&L Crisis - The Solution: In 1989, newly elected President George H.W. Bush announced that he would rescue the troubled Savings and Loan industry. The bailout was priced at a shocking $60 billion, which actually turned out to be overly optimistic. The total cost of the S&L mess was closer to $153 billion, of which $124 was footed by the taxpayers. (Source)
It should read that the amount footed by the taxpayers is $153 billion (assuming that figure is correct). Remember that all government money is taxpayer money.
It should read that the amount footed by the taxpayers is $153 billion (assuming that figure is correct). Remember that all government money is taxpayer money.