A few moments ago, the House of Representatives votes against what has been described as the “Mother of All Bailouts” and the response on Wall Street was immediate panic and fear.

Of course ya bail me out

Below is a quick list of bailouts that have happened during my lifetime I am not saying that this list is in anyway complete.

The Continental Illinois National Bank and Trust Company – bad loans – $4.5 billion

The Savings and Loan Crisis – 747 savings and loan associations – bad loans and deregulation – $120 billion

Executive Life Insurance Company – financial problems led to insolvency – exact amount unknown

Long-Term Capital Management – failed hedge fund, due to lack of regulation – $525 million in private equity

Bear Sterns – subprime mortgage hedge fund – Federally funded loan of $1.2 billion to JP Morgan, non-recourse, of course.

Fannie Mae and Freddie Mac – subprime mortgages and general malfeasance – could reach $200 billion

American International Group – bad investment policies, mainly mortgage-backed securities – $85 billion bridge loan.