Tuesday, January 6, 2009

8 Trillion and Counting

US Bailouts are 8 Trillion and counting.

CNN reports.

NEW YORK (CNNMoney.com) -- Sitting down? It's time to tally up the federal government's bailout tab.

There was $29 billion for Bear Stearns, $345 billion for Citigroup. The Federal Reserve put up $600 billion to guarantee money market deposits and has aggressively driven down interest rates to essentially zero.

The list goes on and on. All told, Congress, the Treasury Department, the Federal Reserve and other agencies have taken dozens of steps to prop up the economy.

Total price tag so far: $7.2 trillion. (more)

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