Politics

Taxpayers Owed Big Bucks Under the Bailout, Little Help for Homeowners Facing Foreclosure

By Mary Bottari

The June update of federal government expenditures in the Wall Street bailout by the Center for Media and Democracy shows that the multi-trillion dollar legacy of the financial crisis largely remains on the government's balance sheet. Our calculations put the total bailout expenditure at $4.74 trillion and the total outstanding balance at $2 trillion.

These numbers are much higher than what is reported in the media because CMD's Wall Street Bailout Cost Table takes into account all 35 government programs, not just the Troubled Asset Relief Program (TARP) managed by the U.S. Treasury Department. Still unpaid: $568 billion in TARP money and $1.4 trillion in Federal Reserve loans and investments.

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Full post as published by PR Watch on July 20, 2010 (boomark / email).