$14 Trillion, Not $700 Billion, is the Real Size of the Bailout

MoneyTreesPosted on Before It’s News:

The price tag for the Wall Street bailout is often put at $700 billion—the size of the Troubled Assets Relief Program. But TARP is just the best known program in an array of more than 30 overseen by Treasury Department and Federal Reserve that have paid out or put aside money to bail out financial firms and inject money into the markets. To get a sense of the size of the real $14 trillion bailout, see the chart here. Below, a guide to the pieces of the puzzle:

Money Market Mutual Fund: In September 2008, the Treasury announced that it would insure the holdings of publicly offered money market mutual funds. According to the Special Inspector General for the Troubled Asset Relief Program (SIGTARP), these guarantees could have potentially cost the federal government more than $3 trillion [PDF].

Public-Private Investment Fund: This joint Treasury-Federal Reserve program bought toxic assets from banks and brokerages—as much as $5 billion of assets per firm. According to SIGTARP, the government’s potential exposure from the PPIF is between $500 million and $1 trillion [PDF].

TARP: As part of the Troubled Asset Relief Program, the Treasury has made loans to or investments more than 750 banks and financial institutions. $650 billion has been paid out (not including HAMP; see below). As of December 21, 2009, $117.5 billion of that has been repaid.

To see how it all adds up, read it all on Before It’s News

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  • http://disinfo.com ralph

    Nice find, phunkychic666. Interesting that some of these source links point to Mother Jones, I really do wonder how Obama is going to deal with the progressive Left in this country (who were such cheerleaders for him in the campaign) given the fact that he is so in bed with Wall Street, it is beyond troubling at this point…

    Matt Taibbi's articles in Rolling Stone over the past year really help describe this Three-Card Monte game all American taxpayers are footing the bill for…

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