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Can You Spare $4.6165 Trillion Dollars?
Apparently Your Government (And You) Can!
Thanksgiving is here and the government is in a giving mood, it seems.
The latest bailout / stimulus / call for help / "we have no idea what we’re doing" effort has been directed at Citibank, with the federal government prepared to provide more than $7.7 trillion on behalf of American taxpayers after guaranteeing $306 billion of Citigroup debt even as the Treasury injects $20 billion into the bank.
This $7.7 trillion is equal to half the national GDP, to put things into perspective. It includes $3.2 trillion already tapped by financial institutions in the biggest response…
27Nov2008 | Oxbury Research | 1 comment | Continued
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