The total potential cost of the financial bailout to the U.S.
taxpayer is already rapidly approaching $5 trillion, over seven
times as much as the meaningless $700 billion bailout bill figure.
Analysts have previously
marked out the $5 trillion figure as the actual cost,
now those predictions are becoming demonstratively accurate.
Meanwhile, Hank Paulson has defended
government intervention, stating "There's no
doubt that the way to get the maximum bang for the taxpayers here
was to invest in banks."
Based on this
Reuters summary and the sources linked within the
table, here is a breakdown of the bailout's cost to taxpayers
so far.
In addition, the U.S. government has said
it will temporarily guarantee $1.5 trillion (£856
billion) in new senior debt issued by banks, as well as insure
$500 billion (£285 billion) in deposits in non-interest
accounts, mainly used by businesses.
These figures take the potential cost to $4.559
trillion+ - or $43, 221 per household.
The total potential cost of the financial bailout to the U.S.
taxpayer is already rapidly approaching $5 trillion, over seven
times as much as the meaningless $700 billion bailout bill figure.
