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Wednesday, November 26, 2008

Real Numbers On The Paulson Bailout

The Paulson Bailout has now cost $4.6165 trillion dollars! Hard to wrap your head around a number that big, right? Consider- this bailout is now more expensive than the cost of World War II, adjusted for inflation (which is $3.6 trillion), PLUS the Vietnam War, adjusted for inflation ($698 billion), PLUS the S & L Crisis, adjusted for inflation ($256 billion)! And that is just from Barry Ritholtz on his The Big Picture.

Over at Bloomberg, they calculate Paulson's tab at $7.76 trillion. According to that figure, every man, woman, and child in America is on the hook for (sit down) $24,000.

Thanks Wall Street for the new student loan. Can you at least send us all a BA in Business? I think we've earned it.

Somebody better get in that recording studio and record 'China, Can You Spare A Dime?'

What pisses me off most about this crisis is that Friday evening we will all watch our idiot neighbors skulk off from dying big box stores with their BluRay players and laptops. Because we shouldn't consider that thing are going to get worse, right? No, no, NEVER stop spending.


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