Treasury says about $110B left in bailout fund

[ardvark]

Source: Yahoo/AP

By MARTIN CRUTSINGER, AP Economics Writer Martin Crutsinger, Ap Economics Writer – 52 mins ago
WASHINGTON – Only $109.6 billion in resources remain in the government's $700 billion financial rescue fund.

But Treasury Department officials said Tuesday they expect the fund will be boosted over the next year by about $25 billion as some institutions pay back money they have received. That would boost the total to $134.6 billion.

The accounting details were made by Treasury Secretary Timothy Geithner in a letter to Elizabeth Warren, the head of the Congressional Oversight Panel.

In the letter, Geithner said the Bush administration had committed $355.4 billion in resources before it left office. That total included $117 billion committed to insurance giant American International Group Inc., banking giants Citigroup Inc. and Bank of America Corp., and auto companies General Motors Corp. and Chrysler LLC.



Read more: http://news.yahoo.com/s/ap/20090421/ap_on_bi_go_ec_fi/us_bailout_fund

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Let's give 'em another trillion!!!!

WOO HOO! BANKERS PARTY! YEAH!

(hey, it's not such a bad deal, article says they got back 25 billion, for the 700 billion they spent)

if we give them another 700 billion, i bet we could DOUBLE that 25 billion - EASY MONEY!!!!!

[madrchsod]

1. i have about 6 dollars in my wallet.......

[Dyedinthewoolliberal]

2. Well, it wouldn't

take that much to bail me out. Heck, if 50K dropped in my lap things would be just fine. They'd never miss it! :)

[ardvark]

3. Jarad from subway now only eats at mcdonalds

he said he wants to become too big to fail

[mbperrin]

4. Yeah! 3.5% or so! Woo-hoo!!!!!

Wait, wasn't inflation higher than that...nah, couldn't be........

[gamecock]

5. never

Seen money spent that fast. My paycheck doesn't even disappear that fast.

[ardvark]

6. perhaps you have simple tastes

'My paycheck doesn't even disappear that fast'

these are welfare bankers

only the best of the best of the best will do - corporate jets can be 20 grand a flight, and once you're used to it, i'm sure it's hard to go back to commercial flights

and that cost real money to keep up, you dont expect them to spend their own, do you?

just for perspective, the twin towers of the WTC cost 1 billion to build, finished in 1973

of course, there's been a lot of inflation since then

caused by stuff exactly like this

[liberal N proud]

7. 25 Billion for a 700 Billion investment and the economy still in the tank

That sure worked out well. Or did it? Maybe the $700 billion was never intended to stimulate the economy but rather provide an infusion for the bankers and their parities and bonuses.

[MasonJar]

8. Doesn't count of course the Federal Reserve's 3+ trillion that Treasury

has promised to assume.

[ardvark]

9. GM, Chrysler to get $5.5B more in government loans

It's a money party

any you're not invited

(but you get to pick up the tab)

http://news.yahoo.com/s/ap/20090421/ap_on_bi_ge/us_auto_bailout

[w4rma]

10. I'm glad Geithner isn't spending the money as crazily as the Bush con-artists did, at least.

Geithner has spent around $250B, then. Where's the oversight of what was spent before Obama was inaugurated?

[ardvark]

11. geithner has been involved in the bailout from day 1, was NY fed res chair - nt

[w4rma]

12. Geithner and Summers need to be replaced. Yesterday. (nt)