The US Government doesn’t have $4.3 trillion to cover their bet.
By Daniel at 6 November, 2009, 9:39 am
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U.S. backed $4.3 trillion in assets, report says
“The U.S. government guaranteed as much as $4.3 trillion in financial assets last year, making such backstops the biggest and riskiest part of Washington’s response to the financial crisis, a bailout watchdog panel said on Friday.
The Congressional Oversight Panel said in its latest monthly report that the asset guarantees from the U.S. Treasury, the Federal Reserve and the Federal Deposit Insurance Corp helped calm panic in financial markets at minimal cost to taxpayers so far.”
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