Please Someone Say It Aint So Bailouts, Bonuses and Backroom Deals from Washington to Wall Street 14.4 Trillion Dollars and Rising

In her book “It takes a Pillage: Behind the Bailouts, Bonuses and Back room Deals from Washington to Wall Street,” Nomi Prins crunches the numbers and calculates the actual size of the Bailouts at a shocking $14.4 trillion and counting. Here are some figures to ponder. The bailout are in the Billions. Source Mother Jones Mag. Feb 2010 Sources: Magazine; Mother Jones. Articles: Moral Bankruptcy. They Knowingly Trashed Our Economy. Why are we letting Wall Street off so easy? Unjust Rewards...

1. The Bonus boom: Average Wall Street bonus $175,000

         4,793 $1 million plus bonuses paid by major Wall Street
                   firms in 2008
         7.7% compensation increase at major firms from 2007 to 2009
         30% at J P Morgan Chase
         $140 billion projected compensation at major firms

Sources: NY Attorney General, Wall Street Journal (stats), Federal Reserve, Professor Hyun Song Shin, Princeton University (chart)The Real Size of the Bailout: Think we spent $700 billion lending banks a hand? Try twenty times that…p32 The price tag for the Wall Street bailout was put at $700 billion – TARP: Troubled Asset Relief Program.

2. United States Treasury Department $7.2 Trillion: On September 2, 1789 The First Congress of the United States established the Department of the Treasury whose mission is to serve the American people and strengthen national security by managing the U.S. Government's finances effectively, promoting economic growth and stability, ensuring the safety, soundness, and security of the United States and international financial systems:

        $3,757 billion to Money Market Mutual Funds (MMMF) 
        $1,000 billion to Public Private Investment Funds 
        $578 billion for TARP  $72 billion repaid but not HAMP 
        $400 billion to Government Sponsored Enterprise (GSE): 
                 stock purchases at $400 billion 
        $314 billion to Mortgage-backed Securities purchase 
        $260 billion in T-Bills so to fund the Feds 
        $301 billion to Citi Group Asset guarantees 
        $159 billion TARP overpayments 
        $118 billion to Bank of America asset guarantee 
        $100 billion to Potential International Funds Liability 
        $50 billion to HAMP Home Affordable Modification Program 
        $50 billion to the Treasury Exchange Stabilization Fund 
        $25 billion to the GSE Credit Facility Program

3. The United States Federal Reserve System $7.2 Trillion: On December 23, 1913, Congress created The Federal Reserve System by and serves as the nation's central bank of the United States. The System consists of a seven member Board of Governors with headquarters in Washington, D.C., and 12 regional Reserve Banks located in major cities throughout the United States.

        $1.800 billion to Commercial Paper Funding Facility
        $1.250 billion to Mortgage-Backed Securities Purchases
        $1,000 billion to Term Assets Backed Securities Loan Facility
        $755 billion to Foreign Central Bank Currency Liquidity Swaps
        $540 billion to Money Market Investor Funding Facility..bailout funds paid 
                 or not offered
        $300 billion to Treasury Purchase Program
        $200 billion to GSE Program
        $148 billion to Primary Dealer Credit Facility
        $146 billion to ABCP MMMF Liquidity Facility
        $125 billion to Open Market Operations
        $138 billion to JP Morgan Chase/Lehman Bros…bailout funds paid off 
                 or not offered
        $125 billion to Tri-Part Repurchase Agreements
        $93 billion to Temporary Reserves
        $112 billion to Primary Credit
        $80 billion to Single-Tranche Repurchase Agreements
        $75 billion to Term Auction Facility
        $60 billion to AIG Preferred Stock Interest, credit and Loan
        $53 billion to Maiden Lane II and III (AIG)
        $36 billion to Expansion of System Open Market Account Securities 
               and Lending
        $50 billion to TOP… bailout funds paid off or not offered
        $38 billion to AIG Securities Lending Facilities…bailout funds paid off 
               or not offered
        $25 billion to TSLF
        $13 billion to JPMC/Bear Stearns Loan bailout funds paid off or not offered
        $30 billion to Maiden Lane I Bear Stearns

Please Someone Say it Aint So!