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Thread: Bailouts could cost U.S. $23 trillion

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    Bailouts could cost U.S. $23 trillion

    Bailouts could cost U.S. $23 trillion

    Bailouts could cost U.S. $23 trillion - Eamon Javers - POLITICO.com

    A series of bailouts, bank rescues and other economic lifelines could end up costing the federal government as much as $23 trillion, the U.S. government’s watchdog over the effort says – a staggering amount that is nearly double the nation’s entire economic output for a year.


    If the feds end up spending that amount, it could be more than the federal government has spent on any single effort in American history.



    Read more: Bailouts could cost U.S. $23 trillion - Eamon Javers - POLITICO.com

    Holy crap! That is a lot of lap dances! Tell me if this is true, what does it mean to you. I even though am Obscenley rich, can't even fathom this amount in any tangent coherency..... This is not good, and will not end well for us....


    What say you?
    Let evil swiftly befall those who have wrongly condemned us

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    Re: Bailouts could cost U.S. $23 trillion

    I say check the rhyme on how much it would cost without buying the mortgage-backed securities and other forms of securitised debt that clogged up the money market. Lot more than that.
    www.thecaffeinemachine.com - looking for main-page political writers, so if anyone is interested send a PM (apologies if that violates any rules)

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    Androgyne
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    Re: Bailouts could cost U.S. $23 trillion

    Quote Originally Posted by Reverend_Hellh0und View Post
    Holy crap! That is a lot of lap dances! Tell me if this is true, what does it mean to you. I even though am Obscenley rich, can't even fathom this amount in any tangent coherency..... This is not good, and will not end well for us....


    What say you?


    Good lord!

    I don't know why the Obama Administration seems to think that the US has a bottomless pocket book. I don't see how this could possibly end good and what's worse is that a lot of the people cheering this most likely either have little to no understanding about the possible ramifications or they just don't care.

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    Re: Bailouts could cost U.S. $23 trillion

    Quote Originally Posted by Dr_Patrick View Post


    Good lord!

    I don't know why the Obama Administration seems to think that the US has a bottomless pocket book. I don't see how this could possibly end good and what's worse is that a lot of the people cheering this most likely either have little to no understanding about the possible ramifications or they just don't care.



    You do know that Obama has been under the guise of "Catching the rich" been going after off shore accounts......


    Do you think, that this is a set up, to afford no American reprive from future opressive taxes... Of course this is speculation of near conpiritorical manner, but I do wonder sometimes.
    Let evil swiftly befall those who have wrongly condemned us

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    Androgyne
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    Re: Bailouts could cost U.S. $23 trillion

    Quote Originally Posted by Reverend_Hellh0und View Post
    You do know that Obama has been under the guise of "Catching the rich" been going after off shore accounts......


    Do you think, that this is a set up, to afford no American reprive from future opressive taxes... Of course this is speculation of near conpiritorical manner, but I do wonder sometimes.
    That very well could be, but I think that he really believes he's doing the right thing by doing this crap. It's too bad he doesn't have enough foresight to see that this will damage us quite a bit. Well, here's yet another reason why many of the people who bashed Bush for his out of control spending have absolutely nothing to justify defending Obama for this.

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    Re: Bailouts could cost U.S. $23 trillion

    Quote Originally Posted by Dr_Patrick View Post
    That very well could be, but I think that he really believes he's doing the right thing by doing this crap. It's too bad he doesn't have enough foresight to see that this will damage us quite a bit. Well, here's yet another reason why many of the people who bashed Bush for his out of control spending have absolutely nothing to justify defending Obama for this.



    100% agree. I abhorred Bush's spending and during the bailouts, I was shocked about how NOT DIFFERENT he was from Obama or McCain......


    We are not on a good path here.
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    Re: Bailouts could cost U.S. $23 trillion

    We're going to have to start WWIII just to prevent foreign nations from repossessing our country.

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    Norville Rogers
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    Re: Bailouts could cost U.S. $23 trillion

    Stupidly ridiculous assumptions went into that number

    Source [NYTimes | Big Estimate, Worth Little, on Bailout ]

    But in the report accompanying his testimony, Mr. Barofsky conceded the number was vastly overblown. It includes estimates of the maximum cost of programs that have already been canceled or that never got under way.

    It also assumes that every home mortgage backed by Fannie Mae or Freddie Mac goes into default, and all the homes turn out to be worthless. It assumes that every bank in America fails, with not a single asset worth even a penny. And it assumes that all of the assets held by money market mutual funds, including Treasury bills, turn out to be worthless.

    It would also require the Treasury itself to default on securities purchased by the Federal Reserve system.
    This number isn't what the US government could possibly have to pay out, it's a tally of the worth of every asset in the entire financial system. Anybody who takes this seriously is just grasping at whatever they can find to support a position they already hold

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    Re: Bailouts could cost U.S. $23 trillion

    Quote Originally Posted by Kernel Sanders View Post
    Stupidly ridiculous assumptions went into that number

    Source [NYTimes | Big Estimate, Worth Little, on Bailout ]



    This number isn't what the US government could possibly have to pay out, it's a tally of the worth of every asset in the entire financial system. Anybody who takes this seriously is just grasping at whatever they can find to support a position they already hold


    So whats your number? half? 1/4?


    Still is shocking no?
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    Norville Rogers
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    Re: Bailouts could cost U.S. $23 trillion

    Quote Originally Posted by Reverend_Hellh0und View Post
    So whats your number? half? 1/4?
    My number for what?

    Still is shocking no?
    No, that's about what I would have thought the entirety of the US financial system is worth.

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