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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: Elroy Jetson who wrote (104363)8/9/2009 7:29:00 PM
From: Broken_Clock1 Recommendation   of 110194
 
You're a hoot EJ. You see Reagan's idiocy so clearly but what about the savior? You can't see him obliterating every spending record in history?

U.S. Rescue May Reach $23.7 Trillion, Barofsky Says (Update3)

By Dawn Kopecki and Catherine Dodge

bloomberg.com
July 20 (Bloomberg) -- U.S. taxpayers may be on the hook for as much as $23.7 trillion to bolster the economy and bail out financial companies, said Neil Barofsky, special inspector general for the Treasury’s Troubled Asset Relief Program.

The Treasury’s $700 billion bank-investment program represents a fraction of all federal support to resuscitate the U.S. financial system, including $6.8 trillion in aid offered by the Federal Reserve, Barofsky said in a report released today.

“TARP has evolved into a program of unprecedented scope, scale and complexity,” Barofsky said in testimony prepared for a hearing tomorrow before the House Committee on Oversight and Government Reform.
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