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Posted Tuesday, September 22, 2009 12:00 PM

Tracking the $19 Trillion Bailout Funds

Matthew Philips

It took $19 trillion in public funds to save the financial system. That came out of your pocket. But here's who doled out the money, and exactly where it went.

Where the Money came From

Federal Reserve $8.2 trillion; included bank loans and asset guarantees.
Treasury Dept. $6.8 trillion; included TARP funds, stimulus spending, and tax benefits.
Other $654 billion; included $134 billion from FHA to guarantee residential mortgages.
Joint Treasury, Fed set aside $1.3 trillion to buy bad bank assets and help Citigroup.
FDIC $2.3 trillion in liquidity guarantees; beefed up deposit insurance.

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Where It Went

Wall Street $17.5 trillion; much of it went to banks and to supporting Fannie and Freddie.
U.S. Citizens Got $1.8 trillion in tax benefits, subsidies, indirect mortgage guarantees.

Source: It Takes a Pillage: Behind the Bailouts, Bonuses, and Backroom Deals from Washington to Wall Street by Nomi Prins

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Posted By: gvillagran3 (September 23, 2009 at 9:58 AM)

I know that we in America tend to be an insular nation, but when it comes to financial news , this is taken to an extreme.

We all know by now that the Financial industry lobby has simply stopped all attempts by Congress at reforming  the industry. One year after tax payers had to bail out WallStreet's  orgy of irresponsability, they are right back at it. This is reported in our news, altough, this news increasingly are drowned by the Health care debate.

What is never, ever reported is how the rest of the world's  investors, and nations are reacting to the increasingly ovbious control the financial industry has over our Government institutions.  In a world where America is becoming increasingly dependant for fresh financing, we simply take it for granted that foreigners will continue to invest in an environment where corruption rains supreme.

Our networks, and publications go on simply ignoring the consecuences that a Wall Street continuing business as usual will have in the already damaged credibility of our financial system, a system I might add that was inherited as the strongest , most credible in the world. A system the present generation of Banker-Gamblers is trashing in the name of making a fast buck for themselves.

And just like with the run up to the war in Iraq..... The Networks instead of asking the hard questions, and keeping the focus on the potentialy disastrous consecuences, they simply go on with their usual news cycle, and ratings wars . To talk about Gradma getting killed by Obama nonsence, is more important these days than to talk about investors arround the world looking for a replacement for the U.S. Dollar, and Wall Street... And talking about America's financial system  as one of the most corrupt , Casino like on planet earth.  


Posted By: White Duk (September 23, 2009 at 6:01 AM)

The 1st 2 comments hit the nail on the head. But I doubt full disclosure will ever be made. Using terms like "National Security" and "non-disclosure", "they" will foil any honest accounting of who got what, or if any of it will make it back to John Q.. This has been one HUGE "nut shell" game, a way to move funds to other places that were never made public knowledge.


Posted By: thisiswhatIthink (September 23, 2009 at 2:29 AM)

the overall numbers are important and informative, but it would be nice to see a breakdown of which companies took bailout money and how much they received.