The table is organized according to the lowest to highest amount of government committed funds. Click on the program's name to find relevant internet links including official documents and news articles. Scroll over the icons in the Comparisons column to read pop-up text that relates the amount of money committed to various expenses. The Coffee Cup symbol (
) compares the program's committed resources to daily consumption of coffee from Starbucks per capita. The Grocery Bag icon (
) compares the program's committed billions to an average American's annual cost of living based on the consumer price index. Scroll over the Dollar icon (
) to compare the 2006 US budget with each bailout program. The 2006 budget is chosen as a baseline due to the economic rumblings in 2007. Below the table is a graph that shows the portion of the bailout of each program.
The government economic bailout altered the role of the Federal Reserve and the government's relationship with private enterprises. Schooled in the Great Depression, Fed Chairman Bernanke feared a repeat and wielded unchecked power. Many question Bernanke's fear of "contagion" (i.e. the spreading of bank disaster) and the long-term effects of unchecked Fed power. Paying the bill ultimately rests with the taxpayers. When trillions of dollars are pumped into institutions that would have otherwise gone bankrupt, the significance of not only the action, but its magnitude are hard to comprehend.
Judicial Watch's table puts into perspective the magnitude of bailout spending. To provide a scale of comparison, Judicial Watch presents numbers to connect expense with the perspectives of individual short-term, individual longer-term, and a nationwide short-term focus. How does one comprehend a trillion dollars? Much less $24 trillion? To note, the numbers are not transparent. Various sources provide different estimates. We have compiled numbers from a variety of sources including CNNMoney, the Federal Reserve, Department of Treasury, etc. The bailout is constantly evolving and so we focus on the money committed rather than spent. These commitments, however, can also change, and programs can be created instantaneously with unprecedented Fed power. The estimated worst case scenario is that the bailout will cost the American people nearly $24 trillion. Explore the table and you will find relevant news articles, links to Judicial Watch's investigations and lawsuits, and relevant comparisons.
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Additional Reading
Wachovia
- Statement by Secretary Paulson on the Sale of Wachovia Bank
- FDIC: Citi to Buy Wachovia's Banking Operations
- FDIC's Bair Gets Bigger Role in Financial Rescue Plan
- Without a Bailout Plan, What Will the Cost Be?
- Wachovia Chooses Wells Fargo, Spurns Citi
Asset-Backed Commercial Paper
- The Fed's Expanding Playbook: The Economists' Views
- Periodic Report June 26, 2009
- Policy Tools: Asset Backed Commercial Paper Money Market Mutual Fund Liquidity Facility
- US Fed: The Board Issues Two Final Rules on AMLF
- U.S. Commercial Paper Market Falls Most This Year
Bear Stearns
- Loan to Facilitate the Acquisition of The Bear Stearns Companies, Inc by JPMorgan Chase & Co.
- Order Approving the Acquisition of Control of a Bank
- Minutes of the Board of Governors of the Federal Reserve
- Inside the Bear Stearns Boiler Room
- The Last Days of Bear Stearns
- Bringing Down Bear Stearns
- Dissecting the Bear Stearns Hedge Fund Collapse
Public Private Partnership Investment Program
- Geithner's Troubling Plan for Troubled Assets
- Two Firms Complete Initial Fundraising for Treasury Toxic-Asset Plan
- Joint Statement: Legacy Asset Program
- Public-Private Investment Program (Treasury)
- Public- Private Investment Program (Chapman and Cutler LLP)
- Treasury Asset Plan Vulnerable to Abuse: Watchdog
- How the $1tn Bank Bailout Will Work
- US Govts: Treasury Extends Deadline of Public-Private Partnership
- Update 1- U.S. Bailout Watchdog Says Treasury Ignores Advice
Auto Industry
- The Auto Bailout: How we did it
- Fact Sheet: Obama Administration Auto Restructuring Initiative: General Motors Restructuring
- Taxpayers May Face Losses from Auto Bailout
- Treasury Announces Auto Supplier Support Program
- Obama Administration Auto Restructuring Initiative Chrysler-Fiat Alliance
- More Trouble for Auto Bailout
- Will the Auto Bailout Work?
- Auto Bailout Reaches $110 Billion with $30 Billion to GM
Bank of America
- Authorization to Provide Residual Financing to Bank of America Corporation Relating to a Designated Asset Pool
- Treasury, Federal Reserve and the FDIC Provide Assistance to Bank of America
- Bank of America Bail-out Agreed
- 75% of Latest Bank of America Bailout Used to Pay Merrill Lynch Bonuses (BAC)
- Bank of America May Receive More Bailout Money
- Lawmakers Say Paulson Kept Bailout Details Secret
American Insurance Group
- Treasury to Invest in AIG Restructuring Under the Emergency Economic Stabilization Act
- How Big is AIG's Bailout…Really?
- U.S. to Take Over AIG in $85 Billion Bailout; Central Banks Inject Cash as Credit Dries Up
- A.I.G. Bailout Priorities Are in Critics' Cross Hairs
- Did AIG Spend Bailout Cash on Image Campaign?
- Greenberg Calls AIG Bailout a "Failure"
- Geithner Says AIG Bailout 'Complicated'
Capital Purchase Program
- Road to Stability: Capital Purchase Program
- Treasury Releases Capital Purchase Program Term Sheet for Mutual Banks
- Treasury Issues Additional Information on Capital Purchase Program
- GAO: Troubled Asset Relief Program: Capital Purchase Program Transactions for the Period October 28, 2008 through March 20, 2009
- Office of Thrift Supervision: Capital Purchase Program
Term Securities Lending Facility
Citigroup
- Authorization to Provide Residual Financing to Citigroup, Inc. For a Designated Asset Pool
- Treasury Announces Participation in Citigroup's Exchange Offering
- Singing the Blues
- Citi Adds $40 Billion of Capital Benefit Through Agreement with U.S. Treasury, Federal Reserve, and FDIC
- U.S. Government Agrees to Massive Citigroup Bailout
- Citigroup Bailout Doesn't Calm Jitters over 'Toxic' Assets
- TARP Special Inspector to Audit Citi Guarantee
Money Market Investor Funding Facility
- Money Market Investor Funding Facility
- Money Market Investor Funding Facility
- Fed Creates New Program Aimed at Easing Liquidity Strains in Money Markets
- Big Fed Program Starts Monday
Troubled Assets Relief Program
- TARP Turns One Year Old, but Still Experiencing Growing Pains
- Battle Brews Over Unused TARP Cash
- Neil Barofsky, TARP Inspector: Financial System May Now Be in A "Far More Dangerous Place"
- Battle Brews Over Unused TARP Cash
- Good Billions After Bad
- Road to Stability: Programs
- Tracking the TARP Cash
- Fed: Troubled Asset Relief Program (TARP) Information
- TARP Recipients Paid Out $114 Million for Politicking Last Year
- Bailout Overseer Says Banks Misused TARP Funds
- Full Committee Hearing: TARP Accountability
Stimulus
- Recovery.gov: Investments by Agency
- Economists See a Limited Boost from Stimulus
- Obama's Stimulus Plan: Failing By Its Own Measure
- Stimulus Package Will Boost Deficit
- Bernanke Endorses Quick, Temporary, Targeted Fiscal Stimulus
- Obama Confronts Doubts on Stimulus, Vows Faster Spending
- Read the Stimulus
Term Asset-backed Securities Loan Facility
- Periodic Report June 26, 2009
- U.S. Treasury and Federal Reserve Board Announce Launch of Term Asset-Backed Securities Loan Facility (TALF)
- US Fed Announces TALF Structure, First Funding March 25
- TALF Works, Buy Financials
Term Auction Facility
Fannie Mae & Freddie Mac
- FHFA: Data as of August 6, 2009 on Treasury and Federal Reserve Purchase Programs for GSE and Mortgage-Related Securities
- Statement by Secretary Henry M. Paulson, Jr. on Treasury and Federal Housing Finance Agency Action to Protect Financial Markets and Taxpayers
- FHFA: Government Sponsored Enterprises
- U.S. Seizes Fannie and Freddie
- Regulator of Fannie, Freddie to Step Down
Commercial Paper Funding Facility
- Fed: Commercial Paper Funding Facility
- GE Used New Fed Commercial-Paper Funding Facility
- Fed Taps Pimco to Manage Paper Funding Facility
- Fed Buys $145.7 Billion of Commercial Paper to Start
Miscellaneous
- FDIC: Temporary Liquidty Guarantee Program
- Federal Reserve Bank of New York: Primary Dealer Credit Facility
Total
- The Financial Crisis: Lessons from the Past
- Davis Polk Releases Comprehensive Review of Financial Crisis Laws
- Recovery.gov
- Financial Stability.gov
- Treasury Press Statements
- Federal Reserve: Monetary Policy
- Fed's Bear Stearns, AIG Assets Rise, Pairing Losses
- GAO Report: Bailout Program Lacks Oversight
- U.S. Taxpayers Risk $9.7 Trillion on Bailout Programs
- U.S. Bailout Stimulus Pledges Total $11.6 Trillion
- CNNMoney.com's Bailout Tracker
- Tracking the $700 Billion Bailout
- The Slate Bailout Guide
- ProPublica's Eye on the Bailout
Estimated
- Treasury Working on New Uses for Bailout Cash
- TARP Money May Be Used to Cut Deficit, Boost Jobs: Obama
- Tarp's Hidden Costs
- Lawmakers Express Outrage at 'Potential' $23.7-Trillion Liability Bank Bailout Law Could Impose on Taxpayers
- SIGTARP: Quarterly Report to Congress July 21, 2009
- The Current Financial Crisis: What Should We Learn from the Great Depressions of the Twentieth Century?



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