How to Add $900 BIllion In Record Time to the Deficit? - Bailout Wall Street

Government bailout tally tops $900 billion according to Reuters.

They tally it up and it ain't pretty.

  • $200B - Fannie Mae/Freddie Mac
  • $300B - FHA
  • $4B - local community grants
  • $85B - AIG (loan)
  • $87B - JP Morgan for refinancing
  • $29B - Bear Sterns
  • $200B - outstanding loans

What does this imply just saddling the deficit in such rapid succession when the United States already is running on fumes due to bad policy and a absurdly expensive war?

Here's a laugh, just a couple of months ago the CBO was horrifying people that the bail out would cost $25B and they even claimed there was a 50% change that money would not be needed.

Nationalizing AIG - $85B loan for 80% Stake For Fed

AIG May Get $85 Billion Loan, Cede Control, NYT Says:

American International Group Inc., the biggest U.S. insurer by assets, may get an $85 billion bridge loan from the Federal Reserve and cede an 80 percent stake, the New York Times reported, citing unnamed people briefed on the negotiations

Ok, now this is ridiculous. Can we get single payer health care here? Where is my bailout?

Why is it ok to nationalize private financial institutions yet when it comes to anything that's directly for the middle class, why ...oh my god...that's socialism.

(note the loan amount needed has gone exponentially up in 48 hours. I believe it started out at $20B).