At least you admit the government was an insurer. The money Congress allocated was to meet its obligations as an insurer. The money went to the depositors, and the S&L's were liquidated. That's not a bailout.
Second, I'm not sure I even agree with the gov't being in the insurance business.
There you go again, admitting the government was an insurer.
Why am I paying Nagin to rebuild New Orleans?
Why are you changing the subject? You must feel you are on shakey ground.
I don't see them coming to Indiana to rebuild here after a tornado.
I think the government pays people up to 25k to homeowners for tornado damage if there is widespread damage in an area.
You can call the payments to the S&L's whatever you want,
The payments went to depositors. The S&L's had their assets seized and were liquidated. I don't know why your anger isn't directed toward Paul Volcker who got the whole mess going. You could probably direct some toward LBJ, Nixon and Carter too, for their economic failures helped lead to that situation.
Go to
http://www.campaignwatch.org/refs4.htm#la092390
Excerpt:
09/22/1990
Atlanta Journal and Constitution
Page A/03
. . . The FDIC suit was filed in Denver, but also announced in Washington, D.C., shortly after President Bush ended a press conference on the White House lawn and left in a helicopter for a weekend at Camp David, Md. The case could have resounding political implications in November elections where S&L scandals and the looming $500 billion bailout have become volatile issues. -————————————————————————————————————
Google neil bush, bailout, credit and you will find plenty of articles showing the government bailout. Neil Bush and Silverado made the nightly news too many days. We all remember the bailout.