Just the fact that the numbers have never been reported or tracked in a clear manner is an indication that something is amiss.
The inititial “bailout” approved by Congress was intended to be $700 BILLION.
The Federal Reserve paid out the rest of the money, with $3 TRILLION going overseas.
according to this article the bail outs are ongoing.
” $29 Trillion is around twice the size of America’s GDP.
The Federal Reserve claims they only lent $1.7 Trillion to the big banks.
Why the huge difference in totals? Because the Fed only counts the most outstanding at any one time.
Here’s a quick list of the Fed borrowers:
Citigroup - $2.513 trillion
Morgan Stanley - $2.041 trillion
Merrill Lynch - $1.949 trillion
Bank of America - $1.344 trillion
Barclays PLC - $868 billion
Bear Sterns - $853 billion
Goldman Sachs - $814 billion
Royal Bank of Scotland - $541 billion
JP Morgan Chase - $391 billion
Deutsche Bank - $354 billion
UBS - $287 billion
Credit Suisse - $262 billion
Lehman Brothers - $183 billion
Bank of Scotland - $181 billion
BNP Paribas - $175 billion
Wells Fargo - $159 billion
Dexia - $159 billion
Wachovia - $142 billion
Dresdner Bank - $135 billion
Societe Generale - $124 billion
“All Other Borrowers” - $2.639 trillion
Do you have a quick list of the payments made back to the FED?
But they have been.
The inititial “bailout” approved by Congress was intended to be $700 BILLION.
Yes, for TARP. The Fed lending is separate.
according to this article the bail outs are ongoing.
It's 3 years old.
Because the Fed only counts the most outstanding at any one time.
How should they count it? You borrow $1000...pay it back, borrow $1000 more. How much did you borrow?