Govt.‘s potential Wall Street, bank support $24T
Govt.‘s potential Wall Street, bank support $24T
WASHINGTON (AP)—The federal government has devoted $4.7 trillion to help the financial sector through its crisis, a watchdog report said Monday.
Under the worst of circumstances, the report said, the government’s maximum exposure could total nearly $24 trillion, or $80,000 for every American.
The figures are part of a tough new quarterly report to Congress from special inspector general Neil Barofsky, who accuses the Treasury Department of repeatedly failing to adopt recommendations aimed at making one component of the government financial rescue effort more accountable and transparent.
Whose treasury was this? Was that Obama’s? Was it Obama’s headed by his hand picked Timothy Geithner?
Yes, I do believe it was.
Clearly, this situation is only getting worse and we’ve seen no end to the calamity this bailout system can bring to us. The retarded liberal trolls can go on about Bush all they want. Obama and the congressional Democrats have embraced the bailout paradigm from day one and I remind you day one was on the watch of a Democrat Party controlled congress, and spread the bailout fever to places Bush would have shaved his head with a cheese grater before signing off on.
All for what reason? Bailing out businesses that can’t fail? No. Empowering those handing out other people’s money? BINGO.
How much money is ultimately to be seen, but that worst case figure above is:
$24,000,000,000,000
Count the zeros…
