Pollock, Alex 150
Sir, Barrie Bain (Letters, September 23) forecasts that in 2014 "we will still be paying off the massive debts incurred in the bailout of the financial system". Of course, he's right, but what an understatement! Consider that the US savings and loan bail-out of 1989 was financed with bonds that run until 2030. So we have two decades left to pay on the bail-out of 20 years ago, let alone that of 2008-09.
Alex J. Pollock is a resident fellow at AEI.