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Originally Posted by Nancy
So where are we at with the bailouts now? I heard Obama was facing a trillion dollar deficit first year in office and that most of the bailout money will have been spent by the time he gets sworn in as president. If this were a Latin American country, I'd wonder what was REALLY going on.
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So I read its $20B and $306B in insurance for Citi. Bear Sterns had $30B of its bad assets bought to aid JPM, but we could see up to its full amount repaid in the future. AIG waas $85B, but they're expected to pay that back in full as it was just a load so AIG could survive, liquidate its assets, and about 80% of the company was leveraged to the feds, e.g. it was nationalized. There was the $700B bailout, $350B now and they'd have to go back to congress for the other $350B, but it looks like the feds have black markered where the $350B so nobody knows whats happened with it. Hard to see where the dust settles, anywhere between $500B to $1 trillion I guess. I also have heard a few times on the news that the Obama stimulous package will be more then the bailout package, and will be over $1 trillion. And then the auto industry, whether the $25B ever goes through or not. With that, I don't think we'll ever see that money again.
Any of these numbers sound real to anyone yet?