'The Bailouts Worked'

About a year ago, I wrote a profile of Treasury Secretary Timothy Geithner. One point I made in the piece--provocative then, less so now--is that the bailouts were working surprisingly well and looked as though they'd cost much less than anticipated. That realization is finally sinking in (although bailouts will probably remain toxic for politicians). The Los Angeles Times is the latest to make the case for TARP and its much-maligned brethren:

There is now broad agreement that the bailouts worked, stabilizing the financial system and preventing an even deeper crisis. Still, many people are worried about the long-term effects of the government actions. They said that in demonstrating a belief that some companies were too big to fail, the government set a dangerous precedent, opening the door to future crises.

(h/t PoliticalWire.com)

Presented by

Joshua Green is a former senior editor at The Atlantic.

Join the Discussion

After you comment, click Post. If you’re not already logged in you will be asked to log in or register with Disqus.

Please note that The Atlantic's account system is separate from our commenting system. To log in or register with The Atlantic, use the Sign In button at the top of every page.

blog comments powered by Disqus

Video

Does This Child Need Marijuana?

Inside a family's fight to use marijuana oils to treat epilepsy

Video

A Miniature 1950s Utopia

A reclusive artist built this idealized suburb to grapple with his painful childhood memories.

Video

Why Principals Matter

Nadia Lopez didn't think anybody cared about her school. Then the Internet heard her story.

Video

A History of Contraception

In the 16th century, men used linen condoms laced shut with ribbons.

Video

'A Music That Has No End'

In Spain, a flamenco guitarist hustles to make a modest living.

More in Politics

Just In