Monday, November 17, 2008

Bail Out Total = $3.8 Trillion

From CNBC:

Given the speed at which the federal government is throwing money at the financial crisis, the average taxpayer, never mind member of Congress, might not be faulted for losing track.

CNBC, however, has been paying very close attention and keeping a running tally of actual spending as well as the commitments involved.

Three-point eight trillion dollars. That's $3,800,000.000.000. More than what was spent on WW II, if adjusted for inflation, based on our computations from a variety of estimates and sources*.

Here are the figures:

(TAF) Term Auction Facility $900

Discount Window Lending

Commercial Banks $108
Investment Banks $102
Loans to buy ABCP $108
AIG $122
Bear Stearns $29.5
(TSLF) Term Securities Lending Facility $225
Swap Lines $519
(MMIFF) Money Market Investor Funding Facility $540
(TARP) Treasury Asset Relief Program $700

Automakers $25
(FHA) Federal Housing Administration $300
Fannie Mae/Freddie Mac $150

Total $3828.5

That's a lot of money