Bailout numbers so far

This does not include $2 trillion dollars in loans from the Federal Reserve to undisclosed recipients.

About the Bailout

A look at the numbers tells the story. With thanks to www.reason.com (“Bailout Balance Sheet”, November 7, 2008 by Katherine Mangu-Ward and Anthony Randazzo) the awful total so far looks like this:
$29 billion for Bear Stearns$143.8 billion for AIG (thus far; it keeps growing)

$100 billion for Fannie Mae

$100 billion for Freddie Mac

$700 billion for Wall Street, including Bank of America (Merrill Lynch), Citigroug, JP Morgan (WaMu), Wells Fargo (Wachovia), Morgan Stanley, Goldman Sachs, and a lot more

$25 billion for the Big Three in Detroit

$8 billion for Indy Mac

$150 billion for stimulus package (from January)

$50 billion for money market funds

$138 billion for Lehman Bros. (post bankruptcy, through JP Morgan)

$620 billion for general currency swaps from the Fed

Rough total: $2,063,800,000,000—Two trillion and growing!

More..

FULL ARTICLE:  http://www.breakthebailout.com/node/3

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One thought on “Bailout numbers so far

  1. The FDIC came out with it’s plan to prevent about 1.5 million home mortgage foreclosures by promising to share any losses with mortgage companies that agree to refinance certain home loans. This is a really good plan guys and will help alot of homeowners who have income (ei, working) stay in their home. It will slow down the tide of foreclosures and help the market absorb the REOs that exist right now and get them sold.

    Their program will be applied to the estimated 1.4 million non-GSE mortgage loans that were 60 days or more past due as of June 2008, plus an additional 3 million non-GSE loans that are projected to become delinquent by year-end 2009. Of this total of approximately 4.4 million problem loans, we expect that about 50% can be modified, resulting in some 2.2 million loan modifications under the plan.

    That means 50% of those who do not qualify to get modified. They will need our help! So make sure you continue to help those who do not have the income to stay in their home. The government could help by better regulating foreclosure rescue scammers and by allowing homeowners to sell their houses with the new buyer assuming the old loan or a workout loan.

    This also means our window to buy REOs at unbelievable prices will not be here forever as the flow of new REOs will be slowing down and our house market will stabilize once this excess inventory is absorbed.

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