Veronesi, Pietro; Zingales, Luigi - In: Journal of Financial Economics 97 (2010) 3, pp. 339-368
We calculate the costs and benefits of the largest ever US government intervention in the financial sector announced during the 2008 Columbus-day weekend. We estimate that this intervention increased the value of banks' financial claims by $130 billion (bn) at a taxpayers' cost of $21-$44...