The total bailout was—are you sitting down?—nearly THIRTY TRILLION DOLLARS!

Bailout Total: $29.616 Trillion Dollars
Posted By Barry Ritholtz On December 9, 2011 @ 6:20 am In Bailouts,Economy,Federal Reserve

There is a fascinating new study coming out of the Levy Economics Institute [1] of Bard College. Its titled “$29,000,000,000,000: A Detailed Look at the Fed’s Bail-out by Funding Facility and Recipient” by James Felkerson. The study looks at the lending, guarantees, facilities and spending of the Federal Reserve.

The researchers took all of the individual transactions across all facilities created to deal with the crisis, to figure out how much the Fed committed as a response to the crisis. This includes direct lending, asset purchases and all other assistance. (It does not include indirect costs such as rising price of goods due to inflation, weak dollar, etc.)

The net total? As of November 10, 2011, it was $29,616.4 billion dollars — (or 29 and a half trillion, if you prefer that nomenclature). Three facilities—CBLS, PDCF, and TAF— are responsible for the lion’s share — 71.1% of all Federal Reserve assistance ($22,826.8 billion).

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