Thursday, July 16, 2009

Forget Enron & WCOM

When are we going to audit the Treasury, Federal Reserve, and the entire U.S. Government?

The total committed bailout money from the US Government amounts to some $13.2 Trillion as of Early June as reported by Bloomberg.

This figure which will grow probably for the rest of our lives is 55% higher then what it was in February 2009.

Here is the mind numbing and nauseating breakdown.

Fannie, Freddie, AIG, Bear Stearns = $300 Billion
Troubled Asset Relief Fund (TARP) = $700 Billion
Fed Commercial Paper Program = $2.3 Trillion
FDIC Bank Guarantees = $1.4 Trillion
Citigroup Guarantee = $300 Billion
Fed MBS Purchase Program = 1.4 Trillion
Public Private Invstmt Plan (PIPP) = $900 Billion
Fed Asset Backed Debt Plan (TALF) = $1 Trillion
Miscellaneous Fed/Treasury =$4.9 Trillion

Total Governmental Outlay =$13.2 Trillion

This figure is almost equal to 1 Year of GDP Output.

What the public should demand to know is what is this $4.9 Trillion figure? And why hasn't there been any accountability in breaking this down?

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