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Author: Gogel, Robert ; Van Der Heyden, LudoINSEAD Area: Technology and Operations Management Series: Working Paper ; 2009/58/TOM Publisher: Fontainebleau : INSEAD, 2009.Language: EnglishDescription: 7 p.Type of document: INSEAD Working Paper Online Access: Click here Abstract: Since 2008, the world’s governments have injected an unprecedented amount of capital into what used to be known as the private economy. The United States and United Kingdom have led the way, but the governments of many other countries have moved into similarly uncharted waters, taking huge equity stakes and purchasing warrants and senior debt positions in financial institutions and corporations. To be sure, bailouts for such companies as AIG, Northern Rock, General Motors, and Fortis were necessary evils. They protected both financial and nonfinancial industries, as well as the wider public, from the excessive negative aftershocks that would have occurred if the failed organisations had simply gone bankrupt.
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Since 2008, the world’s governments have injected an unprecedented amount of capital into what used to be known as the private economy. The United States and United Kingdom have led the way, but the governments of many other countries have moved into similarly uncharted waters, taking huge equity stakes and purchasing warrants and senior debt positions in financial institutions and corporations. To be sure, bailouts for such companies as AIG, Northern Rock, General Motors, and Fortis were necessary evils. They protected both financial and nonfinancial industries, as well as the wider public, from the excessive negative aftershocks that would have occurred if the failed organisations had simply gone bankrupt.

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