This week’s Weekender takes a brisk,slightly irreverent lap around real,ancient financial rescues,from J.P. Morgan‘s locked-door diplomacy to depositors getting saved while shareholders didn’t.

With washington now signaling it will do what is needed to support Argentina’s economy including talks over a large swap line alongside an International Monetary Fund program, it’s a good time to revisit what bailouts fix, what they break, and the weird ways they sometimes even make money.

10 Curious Facts About Bailouts

1. Before the Fed, there was the library.

In 1907, J.P. Morgan literally corralled New York trust company presidents in his madison Avenue library and locked the doors until they agreed to pony up a rescue package. It was an all-nighter that helped inspire the creation of the Federal Reserve in 1913. (Federal Reserve History)

2. Mexico’s ’95 crisis ended up in the black for the United States.

After the Tequila Crisis, the U.S.used the Exchange Stabilization Fund to backstop mexico. Mexico repaid early, and the Treasury earned roughly $580 million in profit, thanks to interest premia. Not every bailout bleeds red in“`html

8 Times europe Led the Way in Banking Crises

1. The 1931 Austrian Crisis sparked a global contagion.

The collapse of Creditanstalt, Austria’s largest bank, in May 1931 triggered a banking panic that spread across Europe and eventually to the United States. It exposed the interconnectedness of the global financial system and the dangers of sovereign debt. ( Federal Reserve History)

2. Sweden’s 1992 banking crisis was a template for resolution.

Sweden faced a severe banking crisis in the early 1990s, triggered by a real estate bubble. The goverment responded by nationalizing several banks, creating a “bad bank” to manage non-performing assets, and providing ample capital injections. This approach, while costly, is often credited with a relatively swift and effective resolution.(International Monetary Fund)

3. Finland’s 1990s crisis showed the limits of forbearance.

Finland also experienced a deep banking crisis in the early 1990s, linked to a bursting real estate bubble. Initially, authorities attempted to avoid bank failures through forbearance – delaying recognition of losses.This proved ineffective, and the government eventually had to step in with massive support, including nationalizations. (Bank for International Settlements)

4. The UK’s 1991 crisis involved building societies.

The UK faced a banking crisis in 1991, centered around building societies (mortgage lenders) that had overextended themselves during a housing boom. Several building societies collapsed,requiring government intervention. This crisis led to significant reforms in the regulation of financial institutions. (History of Details)

5. Spain’s 1992 crisis exposed real estate risks.

Spain experienced a banking crisis in 1992, triggered by a real estate bubble and lax lending standards. The government intervened to rescue several banks, but the crisis highlighted the vulnerability of the financial system to property market fluctuations. (Reuters)

6. Greece’s debt crisis was a sovereign-banking doom loop.

Greece’s sovereign debt crisis, which began in 2009, quickly morphed into a banking crisis as Greek banks held large amounts of government bonds. The country received over 288.7 billion euros (about $337.8 billion) across three programs (2010, 2012, 2015). The 2012 package also engineered the largest sovereign debt restructuring on record (private bondholder “haircuts”). A marathon, not a sprint. (European Stability Mechanism)

7. Cyprus pioneered the modern “bail-in.”

In 2013, Cyprus recapitalized Bank of Cyprus by converting 47.5% of uninsured deposits (over 100,000 euros) into equity, while insured deposits were protected.It was shocking at the time