That includes, as the New York Post pointed out, millions in tax breaks and related pork for kids' wooden arrows, Puerto Rican rum producers, auto race tracks, and corporations operating in American Samoa. (The likely explanation for the latter: StarKist has a large tuna-canning operation in American Samoa. And StarKist's parent company happens to be located in the district of House Speaker Nancy Pelosi.)
| Bailout type | Cost to taxpayers (Source: Reuters) |
|---|---|
| Financial bailout package approved this week | up to or more than $700 billion |
| Bear Stearns financing | $29 billion |
| Fannie Mae and Freddie Mac nationalization | $200 billion |
| AIG loan and nationalization | $85 billion |
| Federal Housing Administration housing rescue bill | $300 billion |
| Mortgage community grants | $4 billion |
| JPMorgan Chase repayments | $87 billion |
| Loans to banks via Fed's Term Auction Facility | $200 billion+ |
| Loans from Depression-era Exchange Stabilization Fund | $50 billion |
| Purchases of mortgage securities by Fannie Mae and Freddie Mac | $144 billion |
| POSSIBLE TOTAL | $1.8 trillion+ |
| NUMBER OF HOUSEHOLDS PER U.S. CENSUS | 105,480,101 |
| POSSIBLE COST PER HOUSEHOLD | $17,064+ |
Bank of America’s mortgage servicing unit systematically lied to homeowners, fraudulently denied loan modifications, and paid...
A Caribbean bank formerly co-owned by Barclays has been targeted by US tax authorities seeking information...
