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Back to the Trough
by John Cassidy
March 2008 Issue
March 2008 Issue
As the subprime-mortgage crisis deepens, the prospect of bank bailouts looms. It wouldn't be the first time the federal government—and taxpayers—have come to the rescue.
Washington is quietly planning a massive rescue for banks stuck in the subprime mess. Does anybody really think Wall Street deserves to be bailed out? Read More
Industry:
Aerospace and Defense
Summary:
The Company is engaged in the research, design, development, manufacture, operation and sustainment of advanced technology …
Primary executive:
Robert J. Stevens,
Industry:
Finance
Summary:
The Company through its subsidiaries, provide banking & nonbanking financial services and products through three business …
Primary executive:
Kenneth D. Lewis,
Corporations
Lockheed Aircraft, one of the early incarnations of
Lockheed Martin, was in bad shape in 1971. Thanks in part to $250 million in loan guarantees passed by Congress, the firm would recover and merge with aerospace giant Martin Marietta in 1995.
Governments
In 1975, President Ford left a struggling New York City high and dry. But President Clinton came to Mexico's aid in 1995 after a rapid devaluation of the peso, persuading countries and banks to lend the country $50 billion.
Banks
In 1984, a slew of risky loans gave rise to rumors that Continental Illinois was near insolvency. The federal government did more than just bail the bank out; it effectively took over. The rescue effort succeeded, and Continental survived to be gobbled up byBank of America in 1994.
Lockheed Aircraft, one of the early incarnations of
Lockheed Martin, was in bad shape in 1971. Thanks in part to $250 million in loan guarantees passed by Congress, the firm would recover and merge with aerospace giant Martin Marietta in 1995.Governments
In 1975, President Ford left a struggling New York City high and dry. But President Clinton came to Mexico's aid in 1995 after a rapid devaluation of the peso, persuading countries and banks to lend the country $50 billion.
Banks
In 1984, a slew of risky loans gave rise to rumors that Continental Illinois was near insolvency. The federal government did more than just bail the bank out; it effectively took over. The rescue effort succeeded, and Continental survived to be gobbled up by
Bank of America in 1994.
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