It took $19 trillion in public funds to save the financial system. That came out of your pocket. But here's who doled out the money, and exactly where it went.
Where the Money came From
Federal Reserve $8.2 trillion; included bank loans and asset guarantees.
Treasury Dept. $6.8 trillion; included TARP funds, stimulus spending, and tax benefits.
Other $654 billion; included $134 billion from FHA to guarantee residential mortgages.
Joint Treasury, Fed set aside $1.3 trillion to buy bad bank assets and help Citigroup.
FDIC $2.3 trillion in liquidity guarantees; beefed up deposit insurance.
Where It Went
Wall Street $17.5 trillion; much of it went to banks and to supporting Fannie and Freddie.
U.S. Citizens Got $1.8 trillion in tax benefits, subsidies, indirect mortgage guarantees.
Source: It Takes a Pillage: Behind the Bailouts, Bonuses, and Backroom Deals from Washington to Wall Street by Nomi Prins
by Matthew Philips, NEWSWEEK
Tracking the $19 Trillion Bailout Funds You On Here » Tracking the $19 Trillion Bailout Funds
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