Fed said to have committed
$29 trillion to bank bailouts
How much money was involved in the Federal Reserve bailout of troubled banks? "The bottom line: a Federal Reserve bailout commitment in excess of $29 trillion," is what a new study says. That statement is found in the synopsis of a paper by James Felkerson published by the Levy Institute.
How much money was involved in the Federal Reserve bailout of troubled banks? "The bottom line: a Federal Reserve bailout commitment in excess of $29 trillion," is what a new study says. That statement is found in the synopsis of a paper by James Felkerson published by the Levy Institute.
There have been a number of estimates of the total amount of funding provided by the Federal Reserve to bail out the financial system. For example, Bloomberg recently claimed that the cumulative commitment by the Fed (this includes asset purchases plus lending) was $7.77 trillion. As part of the Ford Foundation project “A Research and Policy Dialogue Project on Improving Governance of the Government Safety Net in Financial Crisis,” Nicola Matthews and James Felkerson have undertaken an examination of the data on the Fed’s bailout of the financial system—the most comprehensive investigation of the raw data to date. This working paper is the first in a series that will report the results of this investigation. The extraordinary scope and magnitude of the recent financial crisis of 2007–09 required an extraordinary response by the Fed in the fulfillment of its lender-of-last-resort function. The purpose of this paper is to provide a descriptive account of the Fed’s response to the recent financial crisis. It begins with a brief summary of the methodology, then outlines the unconventional facilities and programs aimed at stabilizing the existing financial structure. The paper concludes with a summary of the scope and magnitude of the Fed’s crisis response The bottom line: a Federal Reserve bailout commitment in excess of $29 trillion.
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Newz from Limbo is a news site and, the hosting mechanism notwithstanding, should not be defined as a web log or as 'little more than a community forum'... Write News from Limbo at Krypto78=at=gmail=dot=com... The philosophical orientation of Newz from Limbo is best described as libertarian... For anti-censorship links: http://veilside78.blogspot.com/2010/12/anti-censorship-spectrum_23.html (If link fails, cut and paste it into the url bar)... You may reach some of Paul Conant's other pages through the sidebar link or at http://paulpages.blogspot.com/
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