Now, the more jaw dropping numbers come from a recent analysis done by the Center for Media and Decmocracy (CMD), pointing to an actual total still outstanding at $1.5 trillion (See Chart),This was the worse estimate, but getting accurate data is difficult since the Fed and Treasury are deceptive.
".....while the TARP bailout of Wall Street (not including the bailout of the auto industry) amounted to $330 billion, the government also quietly spent $4.4 trillion more in efforts to stave off the collapse of the financial and mortgage lending sectors. The majority of these funds ($3.9 trillion) came from the Federal Reserve, which undertook the actions citing an obscure section of its charter."
"..$4.8 trillion went out the door to aid financial companies and repair the damage they caused to financial markets, and $1.5 trillion of that is still outstanding."
Who caused these losses? Keynesians did, and they bragged about making wealthy people wealthier on the taxpayer dime. Now they have a bunch of Progressives rallying to the cry, to bailout the same set of crooks once again. Is it any wonder the Tea Party won the election?
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