Status of the Financial Crisis Bail Out

Written By H. Pike Oliver

In 2008, the U.S. Government enacted two programs designed to shore up and restore confidence in key investment banking and mortgage lending institutions. The first of these programs was authorized by the Housing and Economic Recovery Act of 2008, enacted in July. The second was the Emergency Economic Stabilization Act enacted in early October. Collectively, they are often referred to as "The Bailout."

ProPublica is an independent not-for-profit organization that describes itself as devoted to investigative journalism in the public interest. One of the features at this organizations website is a frequently updated Bailout Tracker maintained by Paul Kiel and Dan Nguyen. As of June 2, 2016, they reported that, under the two bailout programs a  total of $620 billion had been expended. More important, revenues returned to the government totaled $688 billion.

H. Pike Oliver

H. Pike Oliver focuses on master-planned communities. He is co-author of Transforming the Irvine Ranch: Joan Irvine, William Pereira, Ray Watson, and THE BIG PLAN, published by Routledge in 2022.

Early in his career, Pike worked for public agencies, including the California Governor's Office of Planning and Research, where he was a principal contributor to An Urban Strategy for California. For the next three decades, he was involved in master-planned development on the Irvine Ranch in Southern California, as well as other properties in western North America and abroad.

Beginning in 2009, Pike taught real estate development at Cornell University and directed the undergraduate program in Urban and Regional Studies. He relocated to Seattle in 2013 and, from 2016 to 2020, served as a lecturer in the Runstad Department of Real Estate at the University of Washington, where he also served as its chair.

Pike graduated from San Francisco State University's urban studies and planning program and received a master's degree in urban planning from UCLA. He is a member of the American Planning Association and the Urban Land Institute and a founder and emeritus member of the California Planning Roundtable.

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