Monday, September 14, 2009

Getting Out

The Times has a piece on the various measures we collectively call "bail-outs", including a discussion of the difficulty of getting out, of unwinding. It reminds me of the Reconstruction Finance Corporation, an entity created under the Hoover administration which made loans for various purposes, over the years amounting to close to twice the annual government budget under Hoover.  It took until 1957 to wind down its affairs and close the doors. x

No comments: