How much is that bailout in the window?

Bailouts Dwarf Spending on Climate and Poverty Crises
Sarah Anderson and John Cavanagh | November 24, 2008
Foreign Policy In Focus

The financial crisis is only one of multiple crises that will affect every country, rich and poor alike. [hat tip to commondreams.org]

The bailout is at well over four trillion and counting. Higher after the new backstops for Citi and credit cards. LOLFed has the best summary I've seen, but it's now a whole week old, which means it's terribly out of date and at LEAST $500 billion too low (=$300B for Citi [not counting the measly direct capital infusion!] and $200B for credit card issuers. Really, really amazing. Not in a good way.

Anyway, here's a link to the LOLFed bailout balance sheet: Why Hijack A Supertanker When You Could Hijack A $4.3 Trillion Dollar Failboat.


Update: Okay, I was really out of date myself. Today (11/26) Kathleen Pender in the SF Chronicle says the total bailout is $8.5 trillion so far, though not all of it has been tapped yet. The article includes a good summary chart from Bloomberg and a helpful timeline. And, oh, by the way, the LOLFed graphic came from CNBC originally.

1 comment:

Johan Maurer said...

Thanks for these helpful links, and for your sobering perspective.