Best Articles & Videos
Top 9-11 & Hacking Election
|Total Bailout Cost Heads Towards $5 TRILLION|
Total Bailout Cost Heads Towards $5 TRILLION
October 15, 2008
Numbers becoming meaningless as Paulson defends government intervention
Wednesday, Oct 15, 2008
The total potential cost of the financial bailout to the U.S. taxpayer is already rapidly approaching $5 trillion, over seven times as much as the meaningless $700 billion bailout bill figure.
Analysts have  previously marked out the $5 trillion figure as the actual cost, now those predictions are becoming demonstratively accurate.
Meanwhile, Hank Paulson has  defended government intervention, stating “There’s no doubt that the way to get the maximum bang for the taxpayers here was to invest in banks.”
Based on  this Reuters summary and the sources linked within the table, here is a breakdown of the bailout’s cost to taxpayers so far.
Cost To Taxpayers
 Pelosi’s latest economic-stimulus package
 Paulson’s Bank Nationalization package
 Bailout to the American car companies
 Nancy Pelosi’s bailout of the state and local governments
 Financial “bailout” bill
 Bear Stearns financing
 Fannie Mae and Freddie Mac nationalization
 AIG loan and  nationalization
$85 billion (+ extra request of $35 billion)
 Federal Housing Administration housing rescue bill
 Mortgage community grants
 JPMorgan Chase repayments
 Loans to banks via Fed’s Term Auction Facility
 Loans from Depression-era Exchange Stabilization Fund
 Purchases of mortgage securities by Fannie/Freddie
POSSIBLE TOTAL $2.56 trillion+
NUMBER OF HOUSEHOLDS PER
U.S. CENSUS 105,480,101
POSSIBLE COST PER HOUSEHOLD
In addition, the U.S. government has  said it will temporarily guarantee $1.5 trillion (£856 billion) in new senior debt issued by banks, as well as insure $500 billion (£285 billion) in deposits in non-interest accounts, mainly used by businesses.
These figures take the potential cost to $4.559 trillion+ - or $43, 221 per household.
Furthermore, when you account for the fact that the  credit default swap market is around $62 trillion, and that  derivatives worldwide are worth between between $1 and $2 quadrillion, the numbers start to become meaningless.
Click here to print.
Copyright © 2008 PrisonPlanet.com. All rights reserved.
Why Dems Will Not Impeach-by Joe, Webmaster
History of Money-What Banks Don't Want You to Know
Dual Citizenship-Loyal to Whom
Who Is Congress Listening To? Not Us. Then Who?
Coming Fiscal Doom
Bush Family Connection to JFK Assasination-Must
Creeping Fascism: From Nazi Germany to Post 9-11 USA
Al-qaeda Is Creation of Bushites and Mass Media
9-11 Truth Manifesto-Article V Constitutional Convention
9-11, Iraq, PNAC-All Roads Lead to Israel
Impending Destruction of US Economy
10 Films the US Government Would Rather You Not See