The money that�s been pledged is equivalent to $24,000 for every man, woman and child in the country. It�s nine times what the U.S. has spent so far on wars in Iraq and Afghanistan, according to Congressional Budget Office figures. It could pay off more than half the country�s mortgages.Follow the $7.4 Trillion. Here is a Breakdown of the Bailout Rescue Efforts. Click on any chart for sharper image.Note: the tables below do not reflect another $300 billion for Citigroup.
�It�s unprecedented,� said Bob Eisenbeis, chief monetary economist at Vineland, New Jersey-based Cumberland Advisors Inc. and an economist for the Atlanta Fed for 10 years until January. �The backlash has begun already. Congress is taking a lot of hits from their constituents because they got snookered on the TARP big time. There�s a lot of supposedly smart people who look to be totally incompetent and it�s all going to fall on the taxpayer.�
The Fed Part 1
The Fed Part 2
The Treasury
The FDIC
The FHA
Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com
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