Bush wants to bailout US Companies at a cost of 700 billion dollars! Is this not a scandal? Bush’s plan is 5 times more expensive then what the the Saving’s and Loan Scandal in the 80s cost US Taxpayers. The cost was 124 billion. Here is an excerpt from Wikipedia regarding the crisis!
- The savings and loan crisis of the 1980s and 1990s (commonly referred to as the S&L crisis) was the failure of 747 savings and loan associations (S&Ls) in the United States. The ultimate cost of the crisis is estimated to have totaled around USD$160.1 billion, about $124.6 billion of which was directly paid for by the U.S. government—that is, the U.S. taxpayer, either directly or through charges on their savings and loan accounts[1]—which contributed to the large budget deficits of the early 1990s.
