Bailout Price Tag: $3.5T So Far - Yahoo Finance

[Tierra_y_Libertad]

We ain't seen nothin' yet..

http://finance.yahoo.com/tech-ticker/article/126117/Cost-of-the-Bailout-3.5T-So-Far-But-%27Real%27-Cost-May-Be-Much-Higher?tickers=AIG,FNM,FRE,XLF,^DJI,^GSPC,C

While the government is clearly spending a lot of taxpayers' money to bail out financial firms, the tally is even bigger than most Americans (economists and pundits included) are probably aware or willing to admit.

The bailout bonanza has gotten so big and happened so fast it's the true cost often gets lost in the discussion. Maybe Hank Paulson and Ben Bernanke prefer it that way because the tally so far is nearly $3.5 trillion, and that's before a likely handout for the auto industry.

Yes, $3.45 trillion has already been spent, as Bailoutsleuth.com details:

* $2T Emergency Fed Loans (the ones the Fed won't discuss, as detailed here)
* $700B TARP (designed to buy bad debt, the fund is rapidly transforming as we'll discuss in an upcoming segment)
* $300B Hope Now (the government's year-old attempt at mortgage workouts)
* $200B Fannie/Freddie
* $140B Tax Breaks for Banks (WaPo has the details)
* $110B: AIG (with it's new deal this week, the big insurer got $40B of TARP money, plus $110B in other relief)

[SammyWinstonJack]

1. !

:kick:

[Neshanic]

2. Nothing to see here...move along. Many here feel this is just fine.

[AndyHammond1970]

3. what in the hell is going on?

What is that 2T dollars for and how did it come about and who did it go to?
This puts this total bailout on par with like 1/3 to 1/4 of our national debt.
Something totally corrupt and crooked is going on here and looks like the majority of it happened via the Treasury before the fall of the market and the 700B voted for bailout occured.
Damn i am more and more super fuckin pissed the more i read about this.
Something needs to happen right now. Some answers are needed pronto.

[rvablue]

5. It's a complete looting by the Bush Cabal.....and not one fucking cent for people like you and me!

[slipslidingaway]

4. Kick n/t

[dailykoff]

6. Social Security "reform" by another means.

We wouldn't let them have the trust fund to play with, so they're just stealing it directly from the Treasury. Unbelievable.