Where the Money came From
Federal Reserve $8.2 trillion; included bank loans and asset guarantees.
Treasury Dept. $6.8 trillion; included TARP funds, stimulus spending, and tax benefits.
Other $654 billion; included $134 billion from FHA to guarantee residential mortgages.
Joint Treasury, Fed set aside $1.3 trillion to buy bad bank assets and help Citigroup.
FDIC $2.3 trillion in liquidity guarantees; beefed up deposit insurance.
Where It Went
Wall Street $17.5 trillion; much of it went to banks and to supporting Fannie and Freddie.
U.S. Citizens Got $1.8 trillion in tax benefits, subsidies, indirect mortgage guarantees.
Related Posts:If everyone who reads our story, who likes it, helps fund it, our future would be much more secure. For as little as $10, you can support the IWB – and it only takes a minute. Thank you. 782 views