The Cost of Bailouts in the Financial Crisis

Bailout isn't just financial. Bailout means you're changing the rules after the rules are laid down. You lay down the rules, you get an outcome you don't like, and then you just change the rules. That's a bailout. And you change the rules to benefit your buddies. Well, but also it is a bailout because they they paid 100, 100 cents in the dollar for assets that are worth like 70 cents. Right.