Monday, February 09, 2009

Bloomberg.com: News

Bloomberg.com: The Bailout that Ate The Earth: "The stimulus package the U.S. Congress is completing would raise the government’s commitment to solving the financial crisis to $9.7 trillion, enough to pay off more than 90 percent of the nation’s home mortgages.

The Federal Reserve, Treasury Department and Federal Deposit Insurance Corporation have lent or spent almost $3 trillion over the past two years and pledged to provide up to $5.7 trillion more if needed."

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And this is before the Obama Bailout.

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