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  •  Billions? It's worse. (2+ / 0-)
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    neroden, ObamaLovingExDemocrat

    We were "sold" on 700 billion from Congress, but (story from Wed., Nov. 26, 2008):

    The federal government committed an additional $800 billion to two new loan programs on Tuesday, bringing its cumulative commitment to financial rescue initiatives to a staggering $8.5 trillion, according to Bloomberg News...

    About $1.1 trillion of the $8.5 trillion is coming from the Treasury Department, including $700 billion approved by Congress in dramatic fashion under the Troubled Asset Relief Program.

    The rest of the commitments are coming from the Federal Deposit Insurance Corp. and the Federal Housing Administration...

    I mean, what the hell?  Taxpayers will be stuck with all of it, somehow, right?  From the Treasury and other government entites?  How much IS this bill to the taxpayers going to end up being???

    Who has oversight on how these funds from different entities are being used?  How ARE they being used, in practical terms?

    This is just blowing my mind...

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