Not $700 Billion, Not $7 Trillion, But $30 Trillion for the Banksters

For $30 trillion, you could employ every one of this nation's 30 million unemployed and underemployed adults, for a salary of $75,000 plus full benefits, for 10 years.

Put them back to work rebuilding the nation's infrastructure and protecting our streets and homes and teaching our children and caring for patients and performing every other public service repugs are so determined to eliminate.

I guarantee that would create infinitely more economic growth than flushing that $30 trillion down the Wall Street bankster toilet, which has created exactly zero economic growth.

Zandar:

A lot of numbers have been thrown around in the accounting of just how much money the banks got from the Fed, but if this analysis is to believed, it's utterly insane: some $29 trillion total.

SNIP

And if you go ahead and do that, as two UMKC graduate students have done, you come up with a mind-busting figure:

When all individual transactions are summed across all facilities created to deal with the crisis, the Fed committed a total of $29,616.4 billion dollars. This includes direct lending plus asset purchases. Table 1 depicts the cumulative amounts for all facilities; any amount outstanding as of November 10, 2011 is in parentheses below the total in Table 1. Three facilities—CBLS, PDCF, and TAF—overshadow all other facilities, and make up 71.1 percent ($22,826.8 billion) of all assistance.

Yeah. That figure is in billions, as in $29,600 plus billions, commonly known as $29.6 trillion. Some ten trillion just in liquidity swaps, and another nine trillion in the Fed's primary dealer credit window, plus another ten trillion in change in other various and sundry programs. Twice our entire national debt, just to get the banks out of the hole they were in. Helicopter Ben was dropping cash out of helicopters made of cash.

Oh, and the banks are right back to playing the same games they were before, because they know if they screw up again, the Fed will bail them out...again.

It is any wonder that the Village Elite are looking to scrap as many social programs as possible in order to make the average American pick up the tab for what's coming next?