No. 4: (11/26/08): Bailout Update

 

 

While Congress is debating and attempting a patchwork auto bailout package, I thought I’d take a moment to remind everyone at the bang up job they did with oversight of the previous bailout bill.  Here’s an update to consider when your Congressman comes asking you to open your wallet for another $25 Billion plus.  This would be funny if it weren’t true.  Don’t you wish you could run my household finances like this?

Financial Crisis Balance Sheet*

 

Government Entity

Sum in Billions

of Dollars

Federal Reserve Programs

 

Commercial Paper Program

1,800

Finance Company Debt Purchases

(Fannie Mae/Freddie Mac)

950

Term Auction Facility (TAF)

900

Swap Lines

613

Other Assets

606

Money Market Investor Funding Facility (MMIFF)

540

Guarantee of non-interest accounts

500

Term Securities Lending Facility (TSLF)

425

Citigroup Bailout

326

Commercial Paper Funding Facility

257

Term Asset-Back Loan Facility

200

AIG Bailout

123

Secondary Credit

118

Discount Window Lending (Commercial Banks)

99

Loans for Purchase of Asset-Backed Commercial Paper (ABCP)

76.5

Commercial Paper Program 2

62

Discount Window Lending (Investment Banks)

57

Bear Sterns Bailout

29.5

Overnight Loans

10

 

 

Federal Reserve Total

7,692

 

 

FDIC Programs

 

Guarantee of New Senior Debt issued by banks

1,500

Guarantee to GE Capital

139

Citigroup Bailout

10

 

 

FDIC Total

1,649

 

 

Treasury Dept. Programs

 

(TARP) Treasury Asset Relief Program

892

Stimulus Package

168

Treasury Exchange Stabilization Fund

50

Tax Breaks for Banks

29

 

 

Treasury Dept. Total

1,139

 

 

Other:

 

(FHA) Federal Housing Administration – Hope for Homeowners

300

Automakers Loan (#1)

25

FHA Mortgage Community Grants

4

 

 

Other Total

329

 

 

U.S. Government Total

10,809

 

 

Cost per Person (305.7 Million)

$   35,358

Cost per Household (105.4 Million)

$ 102,474

 

Note: Figures as of Nov. 26, 2008 *based on compiled figures from CNBC,

Reuters & Bloomberg

 

 

Nov. 25, 2008

Cost per Person  $26,188

Cost per Household $75,955

Nov. 13, 2008

Cost per Person $20,734.05

Cost per Household $60,090.95

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One Response to No. 4: (11/26/08): Bailout Update

  1. Jason says:

    And this is just the intrinsic cost SO FAR. Like I told you earlier, I’ll write Dodd my check for 20,000 right now… I’ll just make it a bad loan and get bailed out myself.

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