Through February 10th, 2009, the U.S. government has pledged a total of about $8.8 TRILLION towards fixing the country's ailing financial system. Of this $8.8 Trillion committed, 'only' about $2 Trillion has been actually spent thus far. * Please check out the details courtesy of the insightful New York Times link below:
nytimes.com/interactive/business/20090205-bailout-totals
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1.) The Government as Investor:
$4.6 Trillion
Spent: $921 billion
Includes direct investments in financial institutions, purchases of high-grade corporate debt and purchases of mortgage-backed securities issued by Fannie Mae, Freddie Mac and Ginnie Mae.
2.) The Government as Lender:
$2.4 Trillion
Spent: $666 billion
A significant expansion of the government's traditional overnight lending to banks, including extending terms to as many as 90 days and allowing borrowing by other financial institutions.
3.) The Government as Insurer:
$1.8 Trillion
Spent: $252 billion
Includes insuring debt issued by financial institutions and guaranteeing poorly performing assets owned by banks and Fannie Mae and Freddie Mac.
Data Courtesy: New York Times
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