Please ignore all the dupes and rubes that estimate the Federal bailout at a meager 2 Trillion. The running total, according to Bloomberg: 12.8 TRILLION. How does 2 Trillion in Toxic Mortgage Paper equate to 12.8 TRILLION in bailouts? Financial Rescue Nears GDP as Pledges Top $12.8 Trillion (Update1) By Mark Pittman and Bob Ivry http://www.bloomberg.com/apps/news?pid=20601087&sid=armOzfkwtCA4&refer=worldwide March 31 (Bloomberg) -- The U.S. government and the Federal Reserve have spent, lent or committed $12.8 trillion, an amount that approaches the value of everything produced in the country last year, to stem the longest recession since the 1930s.... =========================================================== --- Amounts (Billions)--- Limit Current =========================================================== Total $12,798.14 $4,169.71 ----------------------------------------------------------- Federal Reserve Total $7,765.64 $1,678.71 Primary Credit Discount $110.74 $61.31 Secondary Credit $0.19 $1.00 Primary dealer and others $147.00 $20.18 ABCP Liquidity $152.11 $6.85 AIG Credit $60.00 $43.19 Net Portfolio CP Funding $1,800.00 $241.31 Maiden Lane (Bear Stearns) $29.50 $28.82 Maiden Lane II (AIG) $22.50 $18.54 Maiden Lane III (AIG) $30.00 $24.04 Term Securities Lending $250.00 $88.55 Term Auction Facility $900.00 $468.59 Securities lending overnight $10.00 $4.41 Term Asset-Backed Loan Facility $900.00 $4.71 Currency Swaps/Other Assets $606.00 $377.87 MMIFF $540.00 $0.00 GSE Debt Purchases $600.00 $50.39 GSE Mortgage-Backed Securities $1,000.00 $236.16 Citigroup Bailout Fed Portion $220.40 $0.00 Bank of America Bailout $87.20 $0.00 Commitment to Buy Treasuries $300.00 $7.50 ----------------------------------------------------------- FDIC Total $2,038.50 $357.50 Public-Private Investment* $500.00 0.00 FDIC Liquidity Guarantees $1,400.00 $316.50 GE $126.00 $41.00 Citigroup Bailout FDIC $10.00 $0.00 Bank of America Bailout FDIC $2.50 $0.00 ----------------------------------------------------------- Treasury Total $2,694.00 $1,833.50 TARP $700.00 $599.50 Tax Break for Banks $29.00 $29.00 Stimulus Package (Bush) $168.00 $168.00 Stimulus II (Obama) $787.00 $787.00 Treasury Exchange Stabilization $50.00 $50.00 Student Loan Purchases $60.00 $0.00 Support for Fannie/Freddie $400.00 $200.00 Line of Credit for FDIC* $500.00 $0.00 ----------------------------------------------------------- HUD Total $300.00 $300.00 Hope for Homeowners FHA $300.00 $300.00 ----------------------------------------------------------- he FDICâs commitment to guarantee lending under the Legacy Loan Program and the Legacy Asset Program includes a $500 billion line of credit from the U.S. Treasury.
http://news.bbc.co.uk/2/hi/business/7977060.stm last statement in this article is likely to stall the summitt talks
Unlikely. Obama aggressively supports the UN and Internationalism. According to FOX News, the G20 end game is to "harmonize" global regulation of financial markets. Which is just a nice sounding euphemism for IMF control of the US FED and SEC!!! <object width="425" height="344"><param name="movie" value="http://www.youtube.com/v/5wH5YqsuZiw&color1=0x2b405b&color2=0x6b8ab6&hl=en&feature=player_embedded&fs=1"></param><param name="allowFullScreen" value="true"></param><embed src="http://www.youtube.com/v/5wH5YqsuZiw&color1=0x2b405b&color2=0x6b8ab6&hl=en&feature=player_embedded&fs=1" type="application/x-shockwave-flash" allowfullscreen="true" width="425" height="344"></embed></object>
huge chunck of that bailout figure is "committed" capital, not actual cash paid-out. probably less than 20% has been paid. This is a non-trivial point. But, I agree the situation is dire.
ach we are going down like a ferriss wheel with broken ,rusted, iron suppports,this is the obvious,how we play it is the trick, i care ,it's just that the timing is difficult,with a small account,i have to play the risk,if i were warren buffet ,i would just get short and stay short til 570-600 spx