All Commentary
Wednesday, June 30, 2010

Banks Bailed Out Despite Contrary Advice to Regulators


“[R]egulators ignored recommendations from their own advisers to force the banks to accept losses on their A.I.G. deals and instead paid the banks in full for the contracts. That decision, say critics of the A.I.G. bailout, has cost taxpayers billions of extra dollars in payments to the banks.” (New York Times, Wednesday)

Cozy.

FEE Timely Classic
“Too Big to Fail” by Michael Heberling