Congress establishes the Resolution Trust Corp. to take over bad assets and make depositors whole. Resolving the S&L crisis takes six years and $125 billion in taxpayer money — roughly equal to $20...
Congress effectively takes over the ailing Continental Illinois National Bank and Trust, which failed with $40 billion of assets. The Federal Deposit Insurance Corp. injects $4.5 billion to buy bad...
Congress and the Carter administration arrange for $1.2 billion in subsidized loans to bail out automaker Chrysler Corp., then the nation’s 10th-largest company. There ultimately was no significant...
The Roosevelt administration creates the Home Owners’ Loan Corp. to buy $3 billion in bad mortgages from banks and refinance them to homeowners to stem a rise in foreclosures. The government makes ...
The Hoover administration creates the Reconstruction Finance Corp. to facilitate economic activity by lending money in the Great Depression.
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