History of government bailouts

The last government bailout that got repaid was Chrysler. In 1980, the government loaned Chrysler $1.5 billion. Chrysler repaid the loan in 1983, seven years ahead of schedule and netted the government $311 million.

Since then, the US has bailed out:

Continental Illinois National Bank & Trust, 1984, $87.5 billion

Savings and loan industry, 1989, $160 billion

Airline industry, 2001, $15 billion

Amid failure, Continental Illinois National Bank & Trust was acquired by Bank of America in 1994 for $1.9 billion. The cost of the savings and loan bailout was never recouped and is a failed bailout that influences markets even today. The post 9/11 grants and loan guarantees were not enough to keep the airline industry profitable and to date, that $15 billion is gone.

Previous bailouts that were repaid include:

Lockheed, 1971, $250 million, repaid in 1977, $30 million net

New York City, 1975, $6.9 billion, repaid by 1985

Source: Conde' Nast Portfolio November, 2008. On the web here.

I don't know about you, but I don't have any hope of getting any of my money back from the latest bailout program. And before its over it will be a trillion dollars. Yes, a trillion. This is the ultimate example of why not to trust anyone who is trying to sell you something or someone in government who thinks they know whats best for you.