Bank Bailout Estimated Cost: 14 Trillion + (via Pilant’s Business Ethics Blog)

This is from last year. However, few Americans are aware of the loan guarantees given to banks aside from the direct TARP funds. We should never forget the staggering money sacrifice by the taxpayers of the United States to save a flagging financial sector.

James Pilant

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 … Read More

via Pilant's Business Ethics Blog