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A 2019 study by economist Deborah Lucas published in the Annual Review of Financial Economics estimated "that the total direct cost of the 2008 crisis-related bailouts in the United States" (including TARP and other programs) was about $500 billion, or 3.5% of the United States's GDP in 2009, and that "the largest direct beneficiaries of the ...
On November 19, 2008, there was a United States Senate hearing on the automotive crisis in the presence of the heads of Chrysler, Ford and General Motors. The auto manufacturers explained that they would need financial aid of $25 billion if they were to avoid bankruptcy. The Senate was divided on the issue.
[83] [84] [85] While he voted for the two Bush tax cuts (in 2001 and 2003), [86] he also voted for the 2003 bill that created the Medicare Part D prescription drug benefit, [87] [88] the Troubled Asset Relief Program (TARP), and the $700 billion bank bailout, [83] [89] and Ryan was one of 32 Republicans in the House to vote for the auto ...
The Senate approved the House-passed short-term government funding bill in a just-after-midnight vote by a vote of 85-11. The legislation will extend government funding until March 14.
The Senate has sent a stopgap government funding bill to President Biden’s desk, averting a shutdown. The bill passed the House earlier in the day, wrapping up a whirlwind week on Capitol Hill ...
The U.S. auto industry was profitable in every year since 1955, except those years following U.S. recessions and involvement in wars. U.S. auto industry profits suffered from 1971 to 1973 during the Vietnam War, during the recession in the late 1970s which impacted auto industry profits from 1981 to 1983, during and after the Gulf War when ...
The Social Security Fairness Act cleared a key procedural hurdle Wednesday, soaring past the 60 votes it needs to advance by a vote of 73-27. This puts the legislation on a glide path toward final ...
United States Department of the Treasury. After the freeing up of world capital markets in the 1970s and the repeal of the Glass–Steagall Act in 1999, banking practices (mostly Greenspan-inspired "self-regulation") and monetized subprime mortgages sold as low risk investments reached a critical stage during September 2008, characterized by severely contracted liquidity in the global credit ...