1980
Chrysler
- Chrysler lost $1.1 billion
- Chrysler Guarantee Loan Act was passed
- $1.5 billion in loans from the government
- Government aid is matched by banks all over the world
1983
Social Security
- Money coming in from taxes was less than was being given in benefits
- President REagan passes social security laws
- Cancelled and taxed some benefits
- Raise Social Security age from 65 to 67
1984
Continental Illinois National Bank and Trust Company
- 8th largest bank in the nation
- Purchased $1 billion energy loans that failed
- FDIC and Federal Reserve in charge of bailout
- Includes cutting executives
Citations:
American Decades Primary Sources 1980-1989. 7 October 2009. Pg 211.
Pro Publica Journalism in the Public Interest: History of U.S. Government Bailouts. 8 October 2009. http://www.propublica.org/special/government-bailouts
Social Security Online History: In Depth Research Legislative History. 7 October 2009. http://www.ssa.gov/history/1983amend.html.
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