Friday, June 10, 2011

Next TARP? $5 Trillion

Neil Barofsky, who recently stepped down as the Special Inspector General for the $700 billion bank bailout in 2008, discusses what comes next:

A $5 trillion bank bailout.  Understanding that nothing has changed between 2007 and today, other than the assets on bank balance sheets are now worth far less (real estate) and leverage is back at new all time highs (piling into the stock market), his only question?

"Where will we get the $5 trillion?"

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