Bailoutsleuth.com

[Charles Mackay]

I emailed Aaron Krowne about a month ago to suggest he add a bailout O'meter to his website but he said he didn't have time right now. Fortunately Chris Carey started a site to keep track of these mind boggling numbers at www.bailoutsleuth.com Thanks Chris!

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* $2T Emergency Fed Loans (the ones the Fed won't discuss)
* $700B TARP (designed to buy bad debt)
* $300B Hope Now (the government's year-old attempt at mortgage workouts)
* $200B Fannie/Freddie
* $140B Tax Breaks for Banks (WaPo has the details)
* $110B: AIG (with it's new deal this week, the big insurer got $40B of TARP money, plus $110B in other relief)

[tsetsefly]

Re: Bailoutsleuth.com

good info, btw the link does not open the site...

[Charles Mackay]

Re: Bailoutsleuth.com

I just put in the link and it worked for me... I clicked on the above and it had a redirect from iTulip so that may be why. This should work if you copy and paste in your browser.

http://www.bailoutsleuth.com/

[D-Mack]

Re: Bailoutsleuth.com

It'S so confusing, I thought the 700 billion rose to 850 when they voted again for it, but I could be wrong.


Paulson does whatever he wants anyway

Paulson Says Troubled Assets Will Not Be Purchased
Wednesday, November 12, 2008
By Martin Crutsinger, Associated Press


Washington (AP) - Treasury Secretary Henry Paulson said Wednesday the $700 billion government rescue program will not be used to purchase troubled assets as originally planned.

Paulson said the administration will continue to use $250 billion of the program to purchase stock in banks as a way to bolster their balance sheets and encourage them to resume more normal lending.

He announced a new goal for the program to support financial markets, which supply consumer credit in such areas as credit card debt, auto loans and student loans.

Paulson said that 40 percent of U.S. consumer credit is provided through selling securities that are backed by pools of auto loans and other such debt. He said these markets need support.

...

http://www.cnsnews.com/public/conten...x?RsrcID=39242

[Slimprofits]

Re: Bailoutsleuth.com

Paulson said that 40 percent of U.S. consumer credit is provided through selling securities that are backed by pools of auto loans and other such debt. He said these markets need support.

What is really going on here?

Prepare for return of a direct lending world

By John Dizard
Published: January 29 2008

Wall Street and the City have been waiting for a series of magical events that will allow the securitisation machine to re-start. Recapitalising the monoline insurers, one-time injections of new equity for banks from sovereign wealth funds, a revival of stock market confidence; all those were, collectively, supposed to revive off-balance-sheet lending.

That's not what the central banking world is thinking. The official world, and those close to it, are anticipating that we're going back to an on-balance-sheet financial industry. That is, the extension of credit will be done, to a much greater degree, through direct lending by depository institutions rather than through the securitisation of structured products.

[grizam303]

Re: Bailoutsleuth.com

It'S so confusing, I thought the 700 billion rose to 850 when they voted again for it, but I could be wrong.

The revised bill provided for 700 bil in bailout money and the remainder of the cost was in tax breaks such as "patching" the AMT.

[Charles Mackay]

Re: Bailoutsleuth.com

Now, CreditSights says more like $5 Trillion :eek::eek::eek:

Washington’s $5 Trillion Tab
Elizabeth Moyer, 11.12.08, 05:15 PM EST
Fighting the financial crisis has put the U.S. on the hook for some $5 trillion a report says. So far.
For all the fury over Treasury Secretary Henry Paulson’s $700 billion emergency economic relief fund, it seems downright puny when compared to the running total of the government’s response to the credit crisis.
According to CreditSights, a research firm in New York and London, the U.S. government has put itself on the hook for some $5 trillion, so far, in an attempt to arrest a collapse of the financial system.
The estimate includes many of the various solutions cooked up by Paulson and his counterparts Ben Bernanke at the Federal Reserve and Sheila Bair at the Federal Deposit Insurance Corp., as the credit crisis continues to plague banks and the broader markets.
The Fed has taken on much of that total, including lending a cumulative $1 trillion in overnight or short-term loans since March to primary dealers through its emergency discount window and making a cumulative $1.8 trillion available through its term auction facility, a series of short-term transactions it began making available twice a month in January. It should be noted that a portion of the funds lent in these programs has been repaid and that the totals represent what has been made available.


http://www.forbes.com/wallstreet/200...12bailout.html

[Slimprofits]

Re: Bailoutsleuth.com

IFortunately Chris Carey started a site to keep track of these mind boggling numbers at www.bailoutsleuth.com

It's a Mark Cuban creation.

[c1ue]

Re: Bailoutsleuth.com

Seriously? And suddenly there is in the headlines:

http://www.sec.gov/news/press/2008/2008-273.htm

SEC Files Insider Trading Charges Against Mark Cuban

[don]

Re: Bailoutsleuth.com

Sounds like he may have Spitzered :eek:

[Slimprofits]

Re: Bailoutsleuth.com

Seriously? And suddenly there is in the headlines:

http://www.sec.gov/news/press/2008/2008-273.htm

Cuban says that the SEC has been investigating this for two years.

Announcing BailoutSleuth.com

17th 2008 9:38PM

Transparency is key to the success of the Bailout and related loans and investments the government makes with our tax dollars. Without complete transparency, we will get from our government what we always get when it comes to finances, confusion. To do my part, I’ve worked with the folks at Sharesleuth.com to create Bailoutsleuth.com

Its job is simple, keep an eye on our taxpayer dollars and call Bullshit when necessary.

if you take a trip over to Bailoutsleuth you can see that its already time to call BS. In the first contract handed out, in this case to Bank of NY Mellon Corp, the compensation section is blacked out.

Sad. So very sad, that we couldnt make it a week without being afraid of the very taxpayers who are footing the tab for all of this.

Bailoutsleuth will try to publish every day in keeping up with how our taxdollars are spent and the people and companies that are impacted by this program. We are still a work in progress and look forward to your comments , feedback and tips.

[c1ue]

Re: Bailoutsleuth.com

Investigation doesn't itself remove the possibility of manipulation.

I'd bet a large sum of money that any and every billionaire is under investigation by the SEC at every given moment. There's simply too much going on under these given roofs at any given time.

I'll take my tin foil hat off now...

[Slimprofits]

Re: Bailoutsleuth.com

Investigation doesn't itself remove the possibility of manipulation.

True. On a NYT blog no less, one writer speculated this could be revenge for Cuban's financing of Loose Change.

I'll take my tin foil hat off now...

Ignore that last part.

[Charles Mackay]

Re: Bailoutsleuth.com

Did you see here that we are now up to 4.28 trillion in bailouts?

http://www.cnbc.com/id/27719011

[D-Mack]

Re: Bailoutsleuth.com

Did you see here that we are now up to 4.28 billion in bailouts?

http://www.cnbc.com/id/27719011

billions would be cool