Where we are

by Russ Roberts on June 15, 2009

in The Crisis

Nice summary from Bob Davis and Jon Hilsenrath at the WSJ:

Since the onset of the financial crisis nine months ago, the government
has become the nation's biggest mortgage lender, guaranteed nearly $3
trillion in money-market mutual-fund assets, commandeered and
restructured two car companies, taken equity stakes in nearly 600
banks, lent more than $300 billion to blue-chip companies, supported
the life-insurance industry and become a credit source for buyers of
cars, tractors and even weapons for hunting.

I like their division between the gets and get-nots.


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