The true cost of the bank bailout | Need to Know | PBS
According to a team at Bloomberg News, at one point last year the U.S. had lent, spent or guaranteed as much as $12.8 trillion to rescue the economy. The Bloomberg reporters have been following that money. Alison Stewart spoke with one, Bob Ivry, to talk about the true cost to the taxpayer of the Wall Street bailout.
Let's do the math...$12.8 trillion divided by 100 million households in the U.S., that's $128,000 per household. Let's ask the average American what they would prefer, saving SOME banks, or $128k. Hmmm....I can't imagine what they'd choose.