Monday, December 1, 2008


Thus far in 2008 the Feds have spent or committed the following amounts of your money:

• $29 billion for Bear Stearns
• $143.8 billion for AIG (thus far, it keeps growing)
• $100 billion for Fannie Mae
• $100 billion for Freddie Mac
• $700 billion for Wall Street, including Bank of America (Merrill Lynch), Citigroup, JP Morgan (WaMu), Wells Fargo (Wachovia), Morgan Stanley, Goldman Sachs, and a lot more . On top of $45 billion for Citibank, comes a guarantee of $306 billion in bad loans.$800 billion to buy mortgages issued or backed by Fannie Mae, Freddie Mac, Ginnie Mae and Federal Home Loan Banks.
• $200 billion for the auto industry
• $200 billion to buy securities tied to student loans, car-loans, credit card debt and small business loans.
• $8 billion for IndyMac
• $700 billion to $1 trillion stimulus package (from January)
• $50 billion for money market funds
• $138 billion for Lehman Bros. (post bankruptcy) through JP Morgan
• $620 billion for general currency swaps from the Fed

“The numbers change so fast, it is hard to even add them up. Rough total: $3,651,800,000,000 .00

****note the total is now even higher...The federal government committed an additional $800 billion to two new loan programs on last Tuesday

So the total is more like $4.5 trillion

1 comment:

Catherine said...

All these billions and zero!
How is it possible to lose so much money !