Bailout type Cost to taxpayer
Financial bailout package approved this week up to or more than $700 billion
Bear Stearns financing $29 billion
Fannie Mae and Freddie Mac nationalization $200 billion
AIG loan and nationalization $85 billion
Federal Housing Administration housing rescue bill $300 billion
Mortgage community grants $4 billion
JPMorgan Chase repayments $87 billion
Loans to banks via Fed’s Term Auction Facility $200 billion+
Loans from Depression-era Exchange Stabilization Fund $50 billion
Purchases of mortgage securities by Fannie Mae and Freddie Mac $144 billion
POSSIBLE TOTAL $1.8 trillion+
NUMBER OF HOUSEHOLDS PER U.S. CENSUS 105,480,101
POSSIBLE COST PER HOUSEHOLD $17,064+
Here’s the fun part – The Banks get all the possible good assets, which you, the tax payer, pay for and hand over to them meanwhile, you get stuck with all the worthless junk that will never produce one red cent.
THE BAILOUT BILL
Are you upset yet?
In House’s Final Bailout Vote, Money from Finance Sector Sided with Bill’s Supporters
Then, What is Your Breaking Point?
Here’s Some TV
I’m about ready to give up on you people.
Some one out there ready to start a new country have a better more active citizenry, please contact me. Seriously.