Just how big is the hole in the financial system? This big …

An interesting graphic from http://4.bp.blogspot.com/_H2DePAZe2gA/STAqqdE8CfI/AAAAAAAAGks/WrursaMDRIM/s1600-h/expend.png

The amount committed in this crisis by the US alone is close to $ 8 trillion. The breakdown by Bloomberg is here and a recent update is here.  The amount actually spent so far is closer to $ 3.5 trillion, but that’s still a big number.

Madoff's successful pyramid scheme is just another symptom of greed.
World Economic Situation and Prospects 2009

One thought on “Just how big is the hole in the financial system? This big …”

  1. OMG! It’s astonishing to see a graph like the one above, showing the incredible scale of money the US government is putting into this financial crisis. I vote this the understatement of the year:
    “No question there is some credit risk there.” – William Poole, former president of the Federal Reserve Bank of St. Louis, commenting on Citigroup receiving “$306 billion of government guarantees for troubled mortgages and toxic assets. The Treasury Department also will inject $20 billion into the bank after its stock fell 60 percent last week.” (from the Bloomberg link you provided in your blog).

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