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amount paid by taxpayers...

Posted by Heather Warner on November 1, 2000 at 19:51:10:

I believe that someone in class today asked how much people had to pay in
taxes to help straighten out the Savings and Loan Industry mess. In doing
some research I found within my notes a statistic that said $150 Billion
was the total amount tax payers paid. Now, this seems incredibly large
to me, so I think that if i get some time I may check on this number again.
Also, part of the reason why they had tax payers pay this money (even if
they were unaware that they were paying it) was to help keep the confidence
level up about banks and the FSLIC insurance that was now inplace. If
people realized that the FSLIC could not pay this out, then they would
panic and many more bank runs might keep occurring--which would not be




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