Bear Stearns and the other firms involved were rewarded by being able to get loan guarantees that ordinary people could not get had they made the same bad financial decisions.
How are you on the hook?
Who pays the taxes that will be used to cover these loans should they fail to be repaid?
I think guarantee is not the best word to use. They were going to pledge collateral and receive a loan.
Who pays the taxes that will be used to cover these loans should they fail to be repaid?
The loan is not funded with tax dollars.