Sunday, November 9, 2008


I find few things in life worthy of a two-syllable damn, but this may be one of them. Thanks to those at Reason Magazine's Hit and Run, for providing this grim tally.

For those too sozzled or bozwozzled to track what we're spending on on bailouts these days, here's a quick tally:

  • $29 billion for Bear Stearns
  • $143.8 billion for AIG (thus far, it keeps growing)
  • $100 billion for Fannie Mae
  • $100 billion for Freddie Mac
  • $700 billion for Wall Street, including Bank of America (Merrill Lynch), Citigroup, JP Morgan (WaMu), Wells Fargo (Wachovia), Morgan Stanley, Goldman Sachs, and a lot more
  • $25 billion for The Big Three in Detroit
  • $8 billion for IndyMac
  • $150 billion stimulus package (from January)
  • $50 billion for money market funds
  • $138 billion for Lehman Bros. (post bankruptcy) through JP Morgan
  • $620 billion for general currency swaps from the Fed
  • Rough total: $2,063,800,000,000

  • That's a little over $6,800 for every man, woman, and child, or just under $15,000 for each of America's 140 million taxpayers.

    Sure, somewhere buried in the darkest corners of my brain with all the other unpleasant thoughts I've pushed below the surface of consciousness, I knew how bad it really was... but daa-aaammn!