Financing Failure: A Century of Bailouts
"Financing Failure...exposes the truth behind the bailouts." -- Tom Fitton, President, Judicial Watch"Vern McKinley'sanalysis of the recent bailouts...includes the most comprehensive research of the actual underlying discussions that I have seen." -- Michael W. Bell, Retired Chief Financial Officer, CIGNA Corporation"This book should be read by anyone willing to question the crisis narrative produced by the government to justify its actions and propagated by a credulous media." -- Peter J. Wallison, Arthur F. Burns Fellow in Financial Policy Studies, American Enterprise Institute“Financing Failureshows us the appalling lack of logic in regulators' responses to financial crises and how, sadly, we can expect more of the same in the next crisis. McKinley has produced an excellent history of the flawed analysis of financial crisis policy of the last century.”  —Jean Helwege, professor of business administration, University of South Carolina“Reading Vern McKinley’sFinancing Failurewill lead you to a logical conclusion: Failure should be allowed to happen just as success should be allowed to happen. Mr. McKinley demonstrates not only that we have gone to great extremes to keep failure from happening, but also to protect the turf of the regulators who have intervened to keep it from happening. We have done this by putting at risk great sums of public funds and by creating fear in the public mind on the consequences of financial failure. To get a balanced view of the experience we are still going through, this book is a must read.”  —William Wallace, adjunct professor of economics, University of North Texas"This is a phenomenal, detailed policy review of American bank bailouts from the 20th century onward, with a specific focus on the most recent crisis and its aftermath. . . . Going forward, I suspect I will be returning to this book often. Well done.”  —Matt Stoller, former senior policy advisor for Congressman Alan Grayson