By today’s inflated standards that’s about $300 billion, or about a third of the total amount of the bailout (sweeteners added) passed last night by the U.S. House of Representatives.
The 1986 bailout was a notable chunk of change. The world did not end. It won’t end this time, either. Chicken Little, you may take a nap.
But Robin Hood, where art thou? The savings and loan “crisis” of the 1980s has another thing in common with today’s version: it was all about usury, or improper lending.