Wednesday, November 12, 2008

What America's "bank bailout" is really costing taxpayers

How much so far? Try $2.5 trillion.

Here's how BailoutSleuth comes up with its total:
  • $170 billion for banks who sold preferred stock to the government
  • $150 billion given to AIG -- $85 billion initially, another $25 billion, and another $40 billion
  • $2 trillion in emergency loans from the Federal Reserve to banks under 11 different programs that are separate from the TARP program, and which didn't require approval by Congress

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