Bank Bailout Estimated Cost: 14 Trillion +
According to a report by Nomi Prins and Krisztina Ugrin, the money paid out to save the banking industry is currently 14 trillion dollars while the money paid out in the stimulus and other responses to the economic crisis total almost 2 trillion dollars. So, the banking industry gets 14 trillion and regular Americans get a little less than 2 trillion scattered over hundreds of programs. Did you know that we can pay off every sub prime mortgage in the United States for 1.4 trillion? Did you know that our total exposure as a nation under the bank bailout could run as high as 23.7 trillion?
Are you feeling uncomfortable yet?