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. … Read more