www.sourcewatch.org/index.php?title=Total_Wall_Street_Bailout_CostTotal Wall Street Bailout Cost
From SourceWatch
The Wall Street Bailout Cost table is produced and updated monthly by the Real Economy Project of the Center for Media and Democracy, which publishes this website, SourceWatch. The total is reflected on the Financial Crisis Tracker widget which you can download here. This calculation was peer-reviewed by economists at the Center for Economic and Policy Research in Washington, D.C. This table represents a unique accounting of actual goverment funds disbursed, mostly in the form of loans. Our total includes major programs of the U.S. Treasury Department, the Federal Reserve and other government agencies to assist the financial sector and institutions that had a role in the crisis. It does not include stimulus funds, unemployment, student loans, auto bailout and other initiatives to create jobs or support citizens. See Glossary of terms below. Learn more at our Financial Crisis Tracker page on Sourcewatch.
These numbers are updated as data is updated.
TROUBLED ASSET RELIEF (TARP) BAILOUT PROGRAMS
FUNDS DISBURSED*(1st Column)
(IN BILLIONS) MAXIMUM AT-RISK* (2nd Column)
(IN BILLIONS) OUTSTANDING* (3rd Column)
(IN BILLIONS)
*See Glossary at the bottom of this page for definitions of "disbursed," etc.
Liquidity Loans for Banks and Financial Co.s Capital Purchase Program (Treas)______$204____$218____$65
Capital Assistance Program (Treas) ______$0______$0_____$0
Systemically Significant Failing
Institut, Progrm (AIG) (Treas)_________$47.5___$69.8____$47
Targeted Investment Program (Treas) __$40.0____$40.0____$0
Toxic Asset Purchases Term Asset-Backed Securities Loan Facility
("TALF")
(Mostly Fed Resrve, some Treas) ____$67.0____$1,080.0____$45.2
Public-Private Investmt Program:
Legacy Securities Progrm (Treas) ____$30.4____$1,000.0____$30.0
Public-Private Investment Program:
Legacy Loans Program (FDIC) _______$0.728_____n/a_____$0.728
Investor Loss Guarantees Asset Guarantee Program
(Treasury, FDIC & Federal Reserve) ____$0_______$332_______$0
Small Business Support Unlocking Credit for Small Bus. (Treas)__$0.06____$15.0____$0.06
Support for Housing Market Home Affordable Modif Progrm (Treas)__$0.13____$75.0____$0.13
NON-TARP BAILOUT PROGRAMS FUNDS
DISBURSED* MAXIMUM AT-RISK* OUTSTANDING*
*See Glossary at the bottom of this page for definitions of "disbursed," etc.
Support for Housing Market (Govt Supported Enterprises,
Fannie Mae,Freddy Mac, & Federal Housing Admin) GSE stock purchase (Treasury) __$144.9 ____ $144.9 ____ $144.9
GSE direct oblig progr (Fed Rsrv) __$169.0 ____ $200.0 ____ $168.1
GSE MBS Purchase Progr (Treas) __$220.0 ____ $314.0 ____ $181.8
GSE credit facility progr (Treas)____ $0 _______ $25.0 ____ $0
Fed MBS purchases (Fed Rsrv)____$1,099____$1,250____$1,097.3
Federal Housing Admininstration____$0 ____ $352.08 ____ $0
Liquidity Loans to Banks and Financial Co.s Direct loans to BearStrns via JPMC (Fed Rsrv)__$12.9____$12.9____$0
Lehman Bros "wind-down" loan (Fed Resrve)__$138____$138____$0
AIG loans & investments (Fed Reserve)____$52.0 ____ $93.5 ____$52
AIG Securities Lending Facil (Fed Rrve) __$37.8 ____ $37.8 ____ $0
Term Securities Lending Facil ("TSLF") and
Term Securities Lending Facilities
Options Program ("TOP") (Fed Rsrv) __$233.6 ____ $250.0 ____ $0
Primary Dealer Credit Facility (Fed Rsrv)__$147.7____$147.7____ $0
Asset-Backed Commercial Paper Money Market
Fund Liquidity Fac (AMLF) (Fed Rsrv)__$146 __at least $146__$0
Term Auction Facility (Federal Reserve) __$493.1__$900.0__ $0
Commercial Paper Funding Facility (Fed Rsrv)__$350__ $1,800__$2.8
Money Market Investor Funding Fac (Fed Rsrv)__$0__$600__$0
Expansion of System Open Market Account (SOMA) securities lending (Federal Reserve) N/A $36.0 N/A
Primary Credit Program (Federal Reserve) $111.9 $111.9 $5.3
Tri-Party Repurchase Agreements (Federal Reserve) $124.6 $124.6 $0
Purchase of Toxic Assets Maiden Lane I (Bear Stearns) (Federal Reserve) $28.8 $28.8 $28.2
Maiden Lane II and III (AIG) (Federal Reserve) $43.8 $52.5 $36
Single-Tranche Repurchase Agreements (Federal Reserve) $80.0 $80.0 $0
Investor Loss guarantees Money Market Mutual Fund (Treasury) $0 $3,355.3 $0
Foreign Central Bank Liquidity Foreign Central Bank Currency Liquidity Swaps (Federal Reserve) $582.76 $755.0 $0
IMF Expansion (Treasury) $100.0 $100.0 $100.0
GRAND TOTALS:
$4.71 TRILLION.........DISBURSED
$13.89 TRILL MAX.....AT-RISK
$2.01 TRILLION........OUTSTANDING Glossary
These terms are used in the chart above and in the charts for each individual program, which are hyperlinked above. “At-risk” means the total commitment of taxpayer funds made publicly by the relevant public officials (for example, the government may have committed $3.35 billion dollars to guarantee losses in money market mutual funds without having actually disbursed them). “Maximum at-risk” is the high-water mark of government commitments to a program, the maximum level of taxpayer funds that were "at-risk" of being tapped at the height of the crisis. On the program charts you will also see “current at-risk,” which refers to the present, publicly stated level of commitment to a program (for example, when Treasury announced that the Public-Private Investment Program could entail up to a trillion dollars in government investments when first announced, but that figure was later revised downwards and currently stands at $30 billion).
“Disbursed” means funds that have either gone out the door or, as is common at the Federal Reserve, new balances that were created on the Fed’s balance sheet and placed in a specific account. “Outstanding” means funds that have been disbursed but have not been paid back or removed from the balance sheet.
For individual program totals, see the complete program details in the individual program pages. Generally, figures for disbursements are taken directly from data released by the Federal Reserve and the U.S. Treasury. Many “max at-risk” figures are taken from reports of the Special Inspector General for TARP. All figures are individually sourced.
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