feedburner
Enter your email address:

Delivered by FeedBurner

feedburner count

Crisis Balance Sheet US $4.28 trillion

Labels: ,

Try $4.28 trillion dollars. That's $4,284,500,000,000 and more than what was spent on WW II, if adjusted for inflation, based on computations from a variety of estimates and sources (*).

Not only is it a astronomical amount of money, its' a complicated cocktail of budgeted dollars, actual spending, guarantees, loans, swaps and other market mechanisms by the Federal Reserve, the Treasury and other offices of government taken over roughly the last year, based on government data and news releases. Strictly speaking, not every cent is a direct result of what's called the financial crisis, but it is arguably related to it.

Some 68-percent of the sum falls under the Federal Reserve's umbrella, while another 16 percent is the under the Troubled Asset Relief Program, TARP, as defined under the Emergency Economic Stabilization Act, signed into law in early October.


(*) References includ US National Archive, US Dept of Defense, US Bureau of Reclamation, Library of Congress, NASA, Panama Canal Authority, FDIC, Brittanica, WSJ, Time, CNN.com, and a number of other websites.


Sources :

  1. CNBC : Financial Crisis Tab Already In The Trillions | 18 Nov 2008 | 04:38 PM ET.
Bookmark and Share Join My Community at MyBloglog! Add to Technorati Favorites Stumble Upon Toolbar

0 comments:

Post a Comment