Bailout Costs to Date
By Barry Ritholtz - September 25th, 2009, 6:45AM
===========================================================
--- Amounts (Billions)---
Limit Current
===========================================================
Total $11,563.65 $3,025.27
-----------------------------------------------------------
Federal Reserve Total $5,870.65 $1,590.11
Primary Credit Discount $110.74 $28.51
Secondary Credit $1.00 $0.58
Primary dealer and others $147.00 $0.00
ABCP Liquidity $145.89 $0.08
AIG Credit $60.00 $38.81
Commercial Paper program $1,200.00 $42.44
Maiden Lane (Bear Stearns assets) $29.50 $26.19
Maiden Lane II (AIG assets) $22.50 $14.66
Maiden Lane III (AIG assets) $30.00 $20.55
Term Securities Lending $75.00 $0.00
Term Auction Facility $375.00 $196.02
Securities lending overnight $10.42 $9.25
Term Asset-Backed Loans (TALF) $1,000.00 $41.88
Currency Swaps/Other Assets $606.00 $59.12
GSE Debt Purchases $200.00 $129.21
GSE Mortgage-Backed Securities $1,250.00 $693.60
Citigroup Bailout Fed Portion $220.40 $0.00
Bank of America Bailout $87.20 $0.00
Commitment to Buy Treasuries $300.00 $289.22
-----------------------------------------------------------
Treasury Total $2,909.50 $1,075.91
TARP $700.00 $372.43
Tax Break for Banks $29.00 $29.00
Stimulus Package (Bush) $168.00 $168.00
Stimulus II (Obama) $787.00 $303.60
Treasury Exchange Stabilization $50.00 $0.00
Student Loan Purchases $60.00 $0.00
Citigroup Bailout Treasury $5.00 $0.00
Bank of America Bailout Treasury $7.50 $0.00
Support for Fannie/Freddie $400.00 $200.00
Line of Credit for FDIC $500.00 $0.00
Treasury Commitment to TALF $100.00 $0.00
Treasury Commitment to PPIP $100.00 $0.00
Cash for Clunkers $3.00 $2.88
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FDIC Total $2,477.50 $356.00
Public-Private Investment (PPIP)$1,000.00 0.00
Temporary Liquidity Guarantees* $1,400.00 $301.00
Guaranteeing GE Debt $65.00 $55.00
Citigroup Bailout, FDIC Share $10.00 $0.00
Bank of America Bailout, FDIC Share $2.50 $0.00
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HUD Total $306.00 $3.25
Hope for Homeowners (FHA) $300.00 $3.20
Neighborhood Stabilization (FHA) $6.00 $0.05
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* The program has generated $9.3 billion in income, according to the agency.
>
Glossary:
ABCP — Asset-backed commercial paper
AIG — American International Group Inc.
FDIC — Federal Deposit Insurance Corp.
FHA — Federal Housing Administration, a division of HUD
GE — General Electric Co.
GSE — Government-sponsored enterprises (Fannie Mae, Freddie Mac
and Ginnie Mae)
HUD — U.S. Department of Housing and Urban Development
TARP — Troubled Asset Relief Program
>
Breakout of TARP funds:
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--- Amounts (Billions)---
Outlay Returned
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Total $447.76 $75.33
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Capital Purchase Program $204.55 $70.56
General Motors, Chrysler $79.97 $2.14
American International Group $69.84 $0.00
Making Home Affordable Program $23.40 $1.13
Targeted Investment Bank of America $20.00 $0.00
Targeted Investment Citigroup $20.00 $0.00
Term Asset-Backed Loan (TALF) $20.00 $0.00
Citigroup Bailout $5.00 $0.00
Auto Suppliers $5.00 $1.50
>
All data sourced vi Bloomberg:
Fed’s Strategy Reduces U.S. Bailout Pledges to $11.6 Trillion
Mark Pittman and Bob Ivry
Bloomberg, Sept. 25 2009
http://www.bloomberg.com/apps/news?pid=20601109&sid=aJwZIBMSGsek
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September 25th, 2009 at 7:18 am
[...] Disclosures « Bailout Costs to Date [...]
September 25th, 2009 at 8:32 am
I believe accountants and economists, especially in the federal government, should be forced to key in all the digits for every number, rather than mention somewhere in small writing at the top of the page, “In Thousands” or “In Millions” or “In Billions.”
Otherwise, the perception really never changes. Which would have a greater impact on perception and, hence, reality?
$11,563.65
–OR–
$11,563,650,000,000.00
After keying in so many digits, the real size of the numbers might hit home…
“We must not, therefore, wonder whether we really perceive a world, we must instead say: the world is what we perceive…. To seek the essence of perception is to declare that perception is, not presumed true, but defined as access to truth.” ~ Maurice Merleau-Ponty (1908-1961)
September 25th, 2009 at 9:32 am
This is a snapshot taken at a point in time when everything is going (relatively) smoothly. BB’s massive money printing has jacked up the prices of equities especially the big banks and now they just need to pass the baton to the 401K gang while they take their profits.
The RE engine still hasn’t caught in spite of the pump priming (low mort rates and first time buyers Fed bux)
September 26th, 2009 at 6:02 am
[...] Bailout Costs to Date at The Big Picture [...]