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What would have happened if the government did not create bailouts?
Wiki User
∙ 12y ago
The easiest example is the automaker bailouts.
Chrysler and GM both had credit companies (Chrysler Credit and GMAC) that were heavily into toxic mortgage financing. When the mortgage downturn threatened to eat GM and Chrysler, the government stepped in and provided temporary financing as part of a restructuring.
If they would not have done this, GM and Chrysler would have gone out of business and put thousands of people out of work.
PLUS most of the companies that supply those two companies would have gone out of business.
AND all the dealers who sell GM or Chrysler products would have gone out of business.
I, and a lot of professional economists, believe that if GM and Chrysler would have collapsed the United States would have entered a depression that would have been impossible to get out of.
Wiki User
∙ 12y ago
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