Bailout Mania: The Staggering Number & Costs for the Bailouts

Bailouts & Cost to Taxpayers

(Source: Reuters)

Financial bailout package approved this week = $700 billion or more

Bear Stearns financing =$29 billion

Fannie Mae and Freddie Mac nationalization =$200 billion

AIG loan and nationalization =$85 billion

Federal Housing Administration housing rescue bill =$300 billion

Mortgage community grants =$4 billion

JPMorgan Chase repayments = $87 billion

Loans to banks via Fed's Term Auction Facility = $200 billion+

Loans from Depression-era Exchange Stabilization Fund = $50 billion

Purchases of mortgage securities by Fannie Mae and Freddie Mac = $144 billion

POSSIBLE TOTAL = $1.8 trillion+

NUMBER OF HOUSEHOLDS PER U.S. CENSUS = 105,480,101

POSSIBLE COST PER HOUSEHOLD = $17,064+

(The information above is taken from an article titled "Bailout Bill Loops In Green Tech, IRS Snooping" posted by Declan McCullagh and appeared on CNET.com 10/3/08 10:07 PDT.)

****By the way, $1 trillion would be enough money to buy about a 1,000 boxes of Girl Scout cookies for every person in the United States - just to put things in perspective!!!