AIG (American International Group) - Insurance - $85 billion bailout
http://dealbook.blogs.nytimes.com/2008/09/29/behind-aigs-crisis-an-overlooked-web-of-risk/ or http://www.nytimes.com/2008/09/28/business/28melt.html?_r=1&ref=business&oref=slogin
Automotive Industry - $25 billion loan guarantee
http://www.search-autoparts.com/searchautoparts/Distribution/House-approves-25-billion-automotive-bailout-loan/ArticleStandard/Article/detail/553690?contextCategoryId=41884
Bear Stearns forced sale to JP Morgan - Chase - $29 billion guarantee
Fed will fund the remaining $29 billion on a non-recourse basis to JPMorgan Chase.
http://www.jpmorgan.com/cm/Satellite?c=JPM_Content_C&cid=1159339104093&pagename=JPM_redesign%2FJPM_Content_C%2FGeneric_Detail_Page_Template
Fannie Mae and Freddie Mac - $200 billion in preferred stock
"But the eventual cost to the public purse is unknown and potentially huge. The Treasury says it could buy as much as $100 billion of preferred stock in each of the two firms, though it deems that highly unlikely." http://www.bloomberg.com/apps/news?pid=20601109&sid=adr.czwVm3ws&refer=home or http://www.economist.com/finance/displaystory.cfm?story_id=12078933
Financial Securities and Derivatives Bailout - $800 billion (bailout + Tax Incentives)
The tax provisions added more than $100 billion to the cost of the plan. From the original three-page proposal by the Treasury Department, the bill has swelled to 451 pages.
http://www.latimes.com/business/investing/la-fi-bailout2-2008oct02,0,1307485.story
The Housing and Economic Recovery Act of 2008 - $300 billion (Congressional enactment)
(Pub.L. 110-289, 122 Stat. 2654) designed primarily to address the subprime mortgage crisis, was passed by the United States Congress on July 24, 2008
http://www.reuters.com/article/topNews/idUSN3042756820080730
Fed to Provide Up to $540 Billion to Aid Money Funds - added on 10/21/2008 - loans to help relieve pressure on money-market mutual funds beset by redemptions. http://www.bloomberg.com/apps/news?pid=20601103&sid=ajw94.nC0a5w&refer=us
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Thursday, October 2, 2008
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3 comments:
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Don't publish this posting, rather not have every idiot on the web bugging us.
You forgot 300 Billion.
"he Housing and Economic Recovery Act of 2008 (Pub.L. 110-289, 122 Stat. 2654) designed primarily to address the subprime mortgage crisis, was passed by the United States Congress on July 24, 2008 and signed by President George W. Bush on July 30, 2008. It authorizes the Federal Housing Administration to guarantee up to $300 billion in new 30-year fixed rate mortgages for subprime borrowers if lenders write-down principal loan balances to 90 percent of current appraisal value. It's intended to restore confidence in Fannie Mae and Freddie Mac by strengthening regulations and injecting capital into the two large U.S. suppliers of mortgage funding.
^
Thank You, I have revised my numbers accordingly
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