US Grand Bailout – Know Where It Went

Since the Bush government signed for a massive bailout of $700 billions, the people are wondering with different kind of questions. And even with the pumping of such massive assets by the government, the market doesn’t seem to recover yet. I am presenting before you some statistics and details of the grand bailout or TARP, which doesn’t seems to be working efficiently.

After the proposal for bailout came out, the question arises on from where the Fed is going to bring such massive amount of funds. The treasury had access to $250 billion, when the proposal was signed. Other $100 billions were left to the President. And the last $350 billions required Congress resolution.

The Major recipients of the bailout were AIG with $70 billions (10 percent!), Bank of America with $45 billions, Citigroup with $45 billions in cash and additional $5 billions in loan guarantee support.

Of $700 billions, Bush administration has committed for $379.8 billions, and handed $320.2 billions to Obama administration. Both Obama and Bush administrations combined committed $639.8 billions. So treasury is left with $60.2 billions uncommitted.