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View Diary: Two new dead banks, 2,200 more coming, FDIC bailout (28 comments)

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  •  The total housing bailout will destroy the $ (9+ / 0-)

    Total bailout is estimated by CNBC to be $1.43 Trillion and will likely get larger!

    The numbers are staggering and likely to get much larger. What we have here is, through a variety of programs, a stealth bailout where more than a trillion dollars of taxpayer guarantees have been extended to the housing market, both to keep it going and to clean up the mess from the past.

    I looked at the changes over the past year to the balance sheets of four governmental and quasi-governmental agencies—the Federal Reserve, the Federal Home Loan Banks, the Federal Housing Administration and Fannie Mae and Freddie Mac. The objective was to see how much additional financing they have provided to the housing market. The total: $1.43 trillion.


    Carry the battle to them. Don't let them bring it to you. Put them on the defensive and don't ever apologize for anything. Harry S. Truman

    by deepsouthdoug on Sat Jul 26, 2008 at 06:08:15 AM PDT

    [ Parent ]

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