How about a bailout thread?

[c1ue]

You know, there are so many and so long term bailouts going on now, plus increasing activity levels from Fed 'temporary' facilities, that I was thinking it might make sense to have a new category where everyone can keep track of this stuff.

Just this week we have $100B in Fed 'emergency' lending, $85B lent to AIG plus a virtual acquisition, and now it appears a new Clearinghouse for Loan Acquisition Plan (CRAP) coming on line.

Last week Fannie and Freddie nationalized.

AIG, CRAP, Fannie, and Freddie are all ongoing sagas.

The amount being forked out by the government on behalf of all of us taxpayers is reaching up into the 13 digit range.

[The Outback Oracle]

Re: How about a bailout thread?

By the time there is a thread on the bailout of the bailout of the other bailout which was bailing out the previous bailout.....you'll be able to knit a wooly jumper here!

[Slimprofits]

Re: How about a bailout thread?

C1ue, did you mean a thread or a sub-section of the forum?

Here is my first addition.

RUSSA

http://www.bloomberg.com/apps/news?p...HTI&refer=home

Federal takeovers of Fannie Mae, Freddie Mac, and American International Group Inc.; the central bank's expansion of lending to financial firms; and a slowing economy will add $455 billion to the Treasury's borrowing needs, the New York-based interest-rate strategist estimated. Pond said Treasury Secretary Henry Paulson's plan to rid banks of ``hundreds of billions'' of troubled assets would bring the amount to $700 billion assuming the plan costs $200 billion.

[..]

The deficit will likely widen to $650 billion in fiscal 2009 because of the U.S. rescue of Fannie and Freddie, analysts at JPMorgan Chase & Co. wrote in a Sept. 12 report.

Over the next decade, the gap between spending and receipts will swell to $5.3 trillion, Goldman Sachs Group Inc. analysts wrote Sept. 10, revising a previous forecast of $3.6 trillion. The non-partisan Congressional Budget Office forecast a record $438 billion deficit for 2009 on Sept. 9.

``The deficit will soar to enormous proportions,'' said Lou Crandall, the chief economist at Wrightson ICAP LLC in Jersey City, New Jersey. ``Even before this week's events, estimates based on visible factors were pointing to a deficit above $500 billion next year, with the prospect of billions of mortgage- backed securities on top of that.''