mf - story #4743 - Total cost of the bailout...

Total cost of the bailout...
posted by dsk on November 17th, 2008 at 6:41PM

...$4,284,500,000,000 *thus far*

http://www.cnbc.com/id/27719011

Who supported the bailout again?

posted by rick on November 18th, 2008 at 3:08AM

Uh, "the bailout" is 700 odd billion dollars. The 4 trillion dollar figure in the article is the total amount spent by the government in various other actions, including the bailout.

Just saying ...

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Also..
posted by dsk on November 18th, 2008 at 12:49PM

http://www.bloomberg.com/...&refer=worldwide

"The Federal Reserve is refusing to identify the recipients of almost $2 trillion of emergency loans from American taxpayers or the troubled assets the central bank is accepting as collateral."

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posted by dennisn on November 18th, 2008 at 11:19AM

Do you support the government's assistance for it's struggling automotive industries? Surely you must--it employs a huge chunk of the working population and thus represents a huge chunk of the economy. Clearly we can't let it fail.

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posted by dsk on November 18th, 2008 at 10:31AM

Yeah, but really, whats the difference?

At the very least it should make you question the support for a $700 billion bailout given that even without it more than $3 trillion have been used to stimulate or bailout the industry.

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posted by dennisn on November 17th, 2008 at 10:03PM

It's funny (in a truly tragic way) how they try to squeeze in the automotive sector into the mess, hoping that nobody will notice. (Any other backwards doomed industries they want to prop up? Newspapers? Landline telephone companies?) And why didn't they simply inject the money where it was lost--into the defaulted mortgages (and their highly suspicious/criminal hedge funds (credit default swappers))? Clearly everyone is trying to take advantage of this free money as fast as possible before the stupid sleeping masses realize what they let happen.

But, really, the dumb masses are innumerate. And completely obedient/dependent on the state. (And consequently the enslavement of their neighbors.) A recession would have been inevitable if they didn't hijack the economy, which would have made things really difficult for politicians. The *primary* mandate of The State is to maintain it's illusion of power and control. They (and the dumb masses) would never allow "market forces" (LEGAL, MUTUALLY AGREED TO, FREE CHOICES AND TRANSACTIONS) to weaken them.

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