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Too big to fail
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The Bailout in perspective
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"You go to the track with the Porsche you have, not the Porsche you wish you had." '03 E46 M3 '57 356A Various VWs |
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Band.
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4.6 Trillion?
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1983 SC Coupe 1963 BMW R60/2 1972 Triumph Tiger 1995 Triumph Daytona SuperIII |
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Too big to fail
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The only breakdowns I could find in a quick search show it to be higher.
http://bloomberg.com/apps/news?pid=20601109&sid=arEE1iClqDrk&refer=home and http://clusterstock.alleyinsider.com/2008/11/our-7-4-trillion-bailout * $2.4 trillion in commercial paper purchases by the Fed. * $2 trillion in other loans and pledges from the Fed. * $1.4 trillion in rescue committments, including higher deposits insurance. Bloomberg explains: "The FDIC, chaired by Sheila Bair, is contributing 20 percent of total rescue commitments. The FDIC’s $1.4 trillion in guarantees will amount to a bank subsidy of as much as $54 billion over three years, or $18 billion a year, because borrowers will pay a lower interest rate than they would on the open market, according to Raghu Sundurum and Viral Acharya of New York University and the London Business School." * $892 billion for the Treasury's TARP and other Hank Paulson rescues. * $300 billion from FHA to guarantee mortgages through the Hope for Homeowners program, designed to keep distressed borrowers from foreclosure. * $444 billion bailout bucks for Sheila Bair's mortgage program. Bloomberg: "Not included in the calculation of pledged funds is an FDIC proposal to prevent foreclosures by guaranteeing modifications on $444 billion in mortgages at an expected cost of $24.4 billion to be paid from the TARP, according to FDIC spokesman David Barr. The Treasury Department hasn’t approved the program."
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"You go to the track with the Porsche you have, not the Porsche you wish you had." '03 E46 M3 '57 356A Various VWs |
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