It took $19 trillion in public funds to “save the financial system”. That came out of your pocket. But here’s who doled out the money, and exactly where it went.

via newsweek:

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.


READ  Global Debt approaching $280 Trillion by Year-end.
READ  Nancy Put Politics Before People By Rejecting The $1.8 Billion In Financial Aid Offered In October.


h/t Playaguy