What’s the Bailout Going to Cost You?

by Alex Stenback on January 22, 2009

Just so you know:

Duke University finance professor Campbell Harvey estimates that every $150 billion government grant is equivalent to a $1000 contribution from every working or employable American taxpayer. Given the $700 billion Troubled Asset Relief Program alone, every working American is providing $4000 to the bailout from his or her own bank account. That would more than double to $8000 if the entire $825 billion Obama stimulus package is thrown in. For many homeowners, that would be several months worth of mortgage payments.

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{ 2 comments… read them below or add one }

Seattle washington real estate January 22, 2009 at 9:50 pm

The estimate reveals a frightening scinario for the innocent tax payers who are being penalised for the inefficiencies of some top executives who have so far been pampered with fat pay packages and perks only to cover the dusts under their carpet. They should not be allowed to go scot free but to answer the public and to face justice.

Aaron Dickinson - Edina Realty January 23, 2009 at 10:46 pm

TARP is supposed to be a loan program, so that money SHOULD come back to us at least in large part at some time. As for the rest of the stimulus, that’s probably out of our pockets forever. However, if all this $$$$$$$$ stops us from having another Depression, I see that as well worth the expense.

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