Excluding the coronavirus bailouts and the Savings and Loan crisis, Congress has rescued 10 industries or companies since the late 1960s. Five of them made an outright profit. Two likely made a profit but at least broke even, though not enough data was available. The other three lost money, though two of them were unprofitable because Congress intended a good portion of the aid as grants. Money disbursed excludes loan guarantees.
Bailout | Year | Financial commitment | Money actually disbursed | Profit/loss |
---|---|---|---|---|
Railroad iIndustry | 1970s-1980s | $25.3 billion in grants and loan guarantees | $24.5 billion | -$20.4 billion |
Lockheed Martin | 1971 | $1.62 billion in loan guarantees | - | $197 million |
Chrysler | 1979/80 | $4.98 billion in loan guarantees | - | $1.03 billion |
Farm credit system | 1987 | $9.28 billion in direct loans | $2.92 billion | Likely made a profit |
Steel industry/oil and gas industry | 1999 | $6.28 billion in loan guarantees | - | Likely made a profit |
Airline industry | 2001 | $22.1 billion in grants and loan guarantees | $6.96 billion | -$3.58 billion |
Fannie Mae and Freddie Mac | 2008 | $976 billion in capital injections/stock purchases | $234 billion | $123 billion |
Financial sector | 2008 | $854 billion in capital injections/stock purchases | $382 billion | $32.5 billion |
Money market mutual funds | 2008 | $3.67 trillion in guaranteed deposits to money market accounts | - | $1.43 billion |
Auto industry | 2008/09 | $128 billion in TARP funds and a separate loan | $107 billion | -$14.9 billion |