CNBC ran an interesting piece on the accumulated sum of the bailouts to date. The 700 billion bailout is still in the works, but something is bound to pass through both the House and Senate now that WaMu is toast. Here is a link to the article.
Beside the entire situation to be troubling I find it ironic that the Fed vowed not to help with the Lehman debacle, but hold on…
—At least $87 billion in repayments to JPMorgan Chase [JPM 44.62
1.16 (+2.67%)
] for providing financing to underpin trades with units of bankrupt investment bank Lehman Brothers [LEH 0.275
-0.052 (-15.9%)
… $87 bn refund to JPMorgan Chase? What is really going on here?
The rest of the article goes on to prove how we get to $1.8 tn in proposed bailout expenses. How are we going to pay for this? Backup a bit and look here. A picture truly is worth a trillion words.
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