Dan Drezner has a post about the success of the bailout. The New York Times reports,
The Treasury Department expects to recover all but $42 billion of the
$370 billion it has lent to ailing companies since the financial
crisis began last year, with the portion lent to banks actually showing
a slight profit, according to a new Treasury report.
Drezner adds, "If you dig through the numbers, the bulk of the losses come from two
sources — the bailouts of GM and Chrysler, and the bailout of AIG."
Has Fox News reported any of this? Have the tea parties ceased?
Wall Street has changed enormously in the past two years. It's a much more conservative Wall Street than before. I'm not hearing stories anymore about brokers surfing the Internet for fancy cars. The after-work drinking binges are over. Some firms might be paying out big bonuses this year, but the workers are dubious. It's a sober place right now with people digging in their heels into the solid firms. Fear and risk avoidance has replaced greed during the past couple of years. That's probably a good thing.
