What 1 Trillion Dollars loocks like

[bigalpha]

Got it.

 

[cal]

Took me a week but I went and found my source. Here's the link:
http://www.bloomberg.com/apps/news?pid=washingtonstory&sid=aGq2B3XeGKok

I read somewhere that all of these bailouts plus money already promised by the Federal Reserve Bank (who isn't even associated with a branch of our gov't, and half of whom are foreign businesses) will total nearly $10,000,000,000,000. That's ten TRILLION. If that money were to be spent instead on paying off mortgages, we could pay off 90% of Americans mortgages. Imagine, my $700/month mortgage becomes $158 ($58 for the mortgage, $100 into escrow to set aside for property taxes). Think of how "stimulated" we and the economy would be with an extra few hundred dollars a month.

The Federal Reserve, Treasury Department and Federal Deposit Insurance Corporation have lent or spent almost $3 trillion over the past two years and pledged up to $5.7 trillion more. The Senate is to vote this week on an economic-stimulus measure of at least $780 billion. It would need to be reconciled with an $819 billion plan the House approved last month.

Those two statements don't say or imply the same thing, and the article itself is biased in my understanding a little alway from fact. Trying to include all of the lending of the FRB in the context of economic recovery is like considering every four wheel drive ever sold to the offroad community. There are more than 3 million XJ's out there .. how many have seen trails?

 

[Darky]

“We’ve seen money go out the back door of this government unlike any time in the history of our country,” Senator Byron Dorgan, a North Dakota Democrat, said on the Senate floor Feb. 3. “Nobody knows what went out of the Federal Reserve Board, to whom and for what purpose. How much from the FDIC? How much from TARP? When? Why?”