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:
Cartoons from here.