Your Cost for the 2008 Bailouts

At one point, we might have ignored the problem…..  Sigh!

But that did not happen.

So now we have a big bill.  How big?

I was out of town this weekend. Fortunately, somebody was busy.  Del. Bob Marshall did a little research.  Here is the email he sent out.

           Bailouts Since February 2008 Cost to taxpayers (Source: Reuters*)

$700 billion  Financial bailout law approved this week up to or more than        

  $29 billion   Bear Stearns financin                                                                             

$200 billion   Fannie Mae and Freddie Mac nationalization                                

$85 billion    AIG loan and nationalization                                                        

$300 billion    Federal Housing Administration housing rescue bill           

$4 billion    Mortgage community grants                                                          
$87 billion  JPMorgan Chase repayments                                             

$200 billion+   Loans to banks via Fed’s Term Auction Facility                                
 $50 billion  Loans from Depression-era Exchange Stabilization Fund               

$144 billion   Purchases  mortgage from  Fannie Mae and Freddie Mac           

$1.8 trillion+    POSSIBLE TOTAL                                                                           

NUMBER OF HOUSEHOLDS  U.S. CENSUS                 105,480,101

POSSIBLE COST PER HOUSEHOLD                    $17,064+

 How did your Virginia Congressman and Senators vote?  See below.

The official Senate link on the bailout vote can be found at:  http://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=110&session=2&vote=00213

The official House link on the bailout vote can be found at:
http://clerk.house.gov/evs/2008/roll681.xml 

* http://news.cnet.com/8301-13578_3-10057618-38.html?tag=nl.e433

Cartoons from here.

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