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The Key Numbers Behind the Bailouts
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| Contributor | Jason |
| Last Edited | Jason Dec 13, 2008 12:44am |
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| Category | News |
| Media | Newspaper - Wall Street Journal |
| News Date | Saturday, December 13, 2008 06:00:00 AM UTC0:0 |
| Description | Another day, another bailout.
Keeping score on government bailouts has become a nettlesome task. Using the most expansive counting possible, the U.S. has pledged to spend, invest or loan as much as $10 trillion to backstop or bailout banks, money-market funds, depositors and many others. Yet the final tab is likely to be much, much smaller.
Consider the Federal Reserve's pledge to backstop a $1.3 trillion piece of the commercial-paper market by buying this short-term corporate debt itself. So far it has invested $312 billion in the program; Fed officials expect to get all that back with interest. It is only taking the paper of high-rated companies and has different forms of security. |
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