Bailout Price Tag: $3.5 Trillion So Far, But 'Real' Cost May be Much Higher!

LINK:http://finance.yahoo.com/tech-ticker/article/126117/Bailout-Price-Tag-3.5T-So-Far-But-'Real'-Cost-May-Be-Much-Higher?Tickers=AIG,FNM,FRE,XLF,%5EDJI,%5EGSPC,CWhile the government is clearly spending a lot of taxpayers' money to bail out financial firms, the tally is even bigger than most Americans (economists and pundits included) are probably aware or willing to admit.



The bailout bonanza has gotten so big and happened so fast it's the true cost often gets lost in the discussion. Maybe Hank Paulson and Ben Bernanke prefer it that way because the tally so far is nearly $3.5 trillion, and that's before a likely handout for the auto industry. Yes, $3.45 trillion has already been spent, as Bailoutsleuth.com details:



$2T Emergency Fed Loans (the ones the Fed won't discuss, as detailed here)

$700B TARP (designed to buy bad debt, the fund is rapidly transforming as we'll discuss in an upcoming segment)

$300B Hope Now (the government's year-old attempt at mortgage workouts)

$200B Fannie/Freddie

$140B Tax Breaks for Banks (WaPo has the details)

$110B: AIG (with it's new deal this week, the big insurer got $40B of TARP money, plus $110B in other relief)

Tallying up the ''true'' cost of the bailout is difficult, and won't be known for months if not years.

(visit the link for the full news article) And the endless raping and pillaging of the tax-payers and treasury continues on, unabated by any type of real oversight or accountability...

This has turned into the biggest joke ever, and unfortunately the joke is on all of us and our kids, grandkids, and on and on.

By the time these criminal thieves and crooks are done picking our pockets and emptying out everyone's retirement accounts, we will have literally become a third world country. And they are not done by a long shot.

I am sick way down in the pit of my stomach. We are all being absolutely violated, and no one will step in and stop it...

Notice how the pricetag of this heist just keeps going up and up and up?

Blech...Bailout Price Tag: $3.5 Trillion So Far, But 'Real' Cost May be Much Higher!
Linkified:http://finance.yahoo.com/tech-ticker/article/126117/Bailout-Price-Tag-3.5T-So-Far-But-'Real'-Cost-May-Be-Much-Higher?Tickers=AIG,FNM,FRE,XLF,%5EDJI,%5EGSPC,C Bailout Price Tag: $3.5 Trillion So Far, But 'Real' Cost May be Much Higher!
The bailout(s) of the past year have been failures; the economy would have slid either way, but, this way, they are robbing trillions from taxpayers to prevent the failure of those whose questionable business practices caused this in the first place.We should have allowed the market to deal with them at the beginning rather than delay their punishment.
Thank You Congress, President. I was, and still am against this stupid bailout.  I'm also against any other bailout, including the automakers.