Numbers from the Bailout - July 2010

[jtuck004]

Bailout and Subsidization Type Report: Total Industry Subsidization: $7,238,007,000,000 (At Bottom)

Type report here...

Bailout Tally Report: TOTAL POTENTIAL SUPPORT INCLUDING IMPLIED GUARANTEES: $15,860,507,000,000 (Page 5)

Tally report here...

TARP is included among these.



Your Tax Dollars At Work (Though not necessarily for you).

[Hydra]

1. So many trillions...

Imagine how many lives that would have uplifted?

There's our green energy future...being given out like candy to people who don't need it.

[dmallind]

3. Do you honestly think this refers to SPENDING?

Only a tiny fraction of these numbers refer to anything where checks were written.

[Hydra]

4. *Laughs*

Would you prefer to think of it as money we flushed down the drain to plug the hole?

[jtuck004]

5. But a tiny fraction of $15 trillion could still be very real money.

In trying to understand why the words "tiny fraction" are used - is that because some of it is paid back, or...?

Because I have been trying to read about and understand these, and even where money is paid back
it is still free loans, and some of it, although paid back with assets, is being paid back with
assets that are so far from their declared value that we are in fact on the hook for a lot more.

[girl gone mad]

6. RIght, and even when the outlays are refered to as "backstops" rather than direct spending..

this still represents a real fiscal commitment given at a time when the deficit committee is meeting behind closed doors trying to determine how the government can get out of essentially backstopping the projected Social Security deficit.

[jtuck004]

7. People don't see the checks being written by taxpayers who are

now getting it from both ends. Millions of these people losing their homes, losing their jobs - that didn't have to happen. The extra checks they are having to pay to fix their own personal tragedies, and the losses they are taking personally should be added to the total.

Goldman Sach's friends in the government could have fixed mortgages and helped some manufacturers stay in business, helping keep demand up and money flowing just fine. There would have been some disruption as these friends of theirs lost shut down their reckless shadow banks and lost their jobs and their multi-billions in bonuses, but new firms that were run better could have taken over. And that would have made it clear that our government was not going to countenance bad behavior.

But they learned a whole 'nother lesson, and we are going to pay a price for it again, if we don't get it fixed. While we still have a chance.

I am amazed at how many people don't think that the previous attitudes and writings by members of the CF Commission don't tell them something about what they are likely to propose.

[notesdev]

2. Wait wait

where are all those people claiming we're making a profit on this? They were shouting from the rooftops just the other day...