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Post by kramer on Dec 18, 2011 16:30:42 GMT -6
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Post by unlawflcombatnt on Jan 1, 2012 15:15:36 GMT -6
This $29 trillion amount is roughly the same amount referred to by Special Investigator General for TARP, Neil Barofsky. It's interesting that one of the few Wall Street Journal articles that you don't have to pay for comes out and disputes this amount--claiming only $1.3 trillion. But that $1.3 trillion number is clearly wrong, based on just a few on the numbers that we can easily add up. For example, the Fed balance sheet started out at ~$0.800 trillion before the crisis. It is not ~$2.8 trillion--accounting for $2 trillion right there. Then there are all the various purchase plans, which total multiple trillions. So the amount is certainly greater than the $1.3 trillion claimed by the Wall Street Journal. Here's a link to a source that reports the individual totals: SourceWatch.orgSourceWatch puts the totals at $3.95 trillion disbursed by the Federal Reserve $8.06 trillion at risk from the Federal Reserve. Given the Fed's history of secrecy, and extreme reluctance to divulge even that which they are legally required to divulge, the amounts are probably much higher.
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