Bailout Recipients

Thursday, June 11, 2009

So, where has all our money gone? The US government has committed $1.1 trillion in taxpayer-funded bailouts for major financial institutions and automakers. This includes $700 billion from the Emergency Economic Stabilization Act, the TARP funds, and $400 billion from the Housing and Economic Recovery Act of 2008, the saving of Fannie Mae and Freddie Mac. The $700 billion Troubled Asset Relief Program has comitted $564.8 billion to specific agendas leaving $135 billion in the coffers. Of the total amount committed, $394.1 billion has actually been loaned to or invested in 608 private companies as of June 10, 2009.

In analyzing the amount actually invested or loaned as of June 10, 2009, we see some startling developments. The top 8 recipients have received $348.4 billion, 88% of the total, an average of $43.6 billion per company. The remaining 600 companies have received $45.7 billion, less than 12% of the total funds, an average of $80 million per recipient.

Clearly, this bailout has been solely geared towards 8 key institutions deemed too-big-to-fail by government officials.


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