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Chart of the Day
CHART OF THE DAY....Via Propublica, here's a history of government bailouts starting with the Penn Central bailout of 1970. All adjusted for inflation, of course. Click the link for all the gory details.
Thank God we don't have socialism in 'merica.
Simpler chart.
Presidents not named Bush: teeny tiny circle
Presidents named Bush: BFBlob
SoupCatcher's observation hit me too.
There's only one big bailout not on W's watch. And that was on Bush 41's watch.
I apologize for the unrelated post, but this chart reminds me of a chart I want to see on an unrelated topic. Since you are the Chart King, maybe you can make it happen.
I would like to see a visual comparison of existing world oil reserves vs. those that may be available offshore US and ANWR.
I would also like to see a comparison of cost/energy output ratio of various options for new electric power (new coal plant/new nuclear plan/wind/solar).
When we get back to talking about energy solutions, maybe you can help.
Thanks.
Every single bailout here occurred during a Republican administration.
The really big bailouts appear to occur near the end of Republican administrations.
It wouldn't take much to formuate some conspiracy theories here...!
And the Carter administration did better than Nixon, Ford and Reagan too.
What we see in the graph is that Republicans are great at "creative destruction." By the by, and off topic, one senator said Greenspan had called the $700,000,000 "chicken feed" compared to the size of the toxic waste pile that TARP will have to detox.
That's fake. The cost of this bailout is not known at this time.
Perhaps more accurately, the Bear Stearns, AIG, Fannie/Freddie, and Wall Street bailouts should all be combined since they are all part of the same crisis. This would make the current fiasco more on the order of a Mr. Creosote-sized disaster.
Also, does anyone really think that the $700 billion proposal is anything more than the first payment to the extortionists?
I'm not sure these numbers represent actual cost to the taxpayers. Some are loans or loan guarantees. I would like to know how much money it cost us after all the loans were repaid (or not).
It would be nice to think that the Govt. kept track of these things and they were easily available, but that is probably naive.
So if the taxpayers don't bail out Wall St., Paulson will say we're in a recession instead of lying and saying we're not in a recession. It only costs $700 Billion for the truth. Such a deal!
That's a nice chart, but we really need news we can use. Did you know Clay Aiken is gay, Linsay Lohan is dating a woman, and Barack Obama is a closet terrorist who once called Sarah Palin a pig with lipstick?
The chart is impressive but a column with the net cost to taxpayers would be helpful. As I recall, the treasury made money on the Chrysler bailout after the debts were finely settled.
Circle graphs are terrible. People (and by people I mean "me") have a tough time judging differences in area from circle sizes. For instance, a circle with radius 4 is less than half the area of a circle radius 6.
Bar graphs are the answer, it's so much easier (by which I mean "so much easier for me") to judge relative magnitudes that way.
By my math, and an eyeball measure, looks like this $700B NOW!NOW!NOW! is more than twice as large an outlay as the S&L disaster.
9.4 billion dollars for New York City, not a penny for New Orleans...