US Federal Reserve

 
Content Section

From Newsweek

Tracking the $19 Trillion Bailout Funds

It took $19 trillion in public funds to save the financial system. That came out of your pocket. But here's who doled out the money, and exactly where it went.

Where the Money came From

Federal Reserve $8.2 trillion; included bank loans and asset guarantees.
Treasury Dept. $6.8 trillion; included TARP funds, stimulus spending, and tax benefits.
Other $654 billion; included $134 billion from FHA to guarantee residential mortgages.
Joint Treasury, Fed set aside $1.3 trillion to buy bad bank assets and help Citigroup.
FDIC $2.3 trillion in liquidity guarantees; beefed up deposit insurance.

Where It Went

Wall Street $17.5 trillion; much of it went to banks and to supporting Fannie and Freddie.
U.S. Citizens Got $1.8 trillion in tax benefits, subsidies, indirect mortgage guarantees.

Source: It Takes a Pillage: Behind the Bailouts, Bonuses, and Backroom Deals from Washington to Wall Street by Nomi Prins

View As Single Page