2 trillion reasons the bailout was a bad idea

[therealUT]

Nov. 10 (Bloomberg) -- The Federal Reserve is refusing to identify the recipients of almost $2 trillion of emergency loans from American taxpayers or the troubled assets the central bank is accepting as collateral.

Bloomberg.com: Worldwide

I believe that puts the total tally at $2.9T towards bailing out American industries. Let's go ahead and figure in the $100+B that will be given to Detroit auto, and we are in over $3T. Congrats Pelosi and Reid!

 

[BigPapaVol]

I don't remotely understand the lack of front end clarity, since we'll have that clarity on the back end.

 

[droski]

the assumption here seems to be that this money is down the toilet which it of course is not.