Bailout
$7.77 Trillion: The Secret Bailout
Bloomberg.com reported last week that the Federal Reserve had doled out $7.77 trillion as of March 2009 to banks with the goal of stabilizing the financial system. That number makes the Treasury Department's $700 billion bailout through the Troubled Asset Relief Program (TARP) look like an ant standing next to an elephant.
Learning A Lesson From The Car Companies
When trying to ignite growth, car companies and the government have recently used a few strategies: the bailout strategy; or the research, development and adaptation strategy. Let me explain:
The bailout strategy:
