bailout tally dec 2009

8/14/2019 Bailout Tally Dec 2009

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. BailoutTallyReportby Nomi Prins and Krisztina Ugrin

Nomi Prins LLC 1

,

SupplementalAnalysisforItTakesAPillage:BehindtheBailouts,BonusesandBackroomDealsfrom

Washington

to

Wall

Street

WHOGAVEIT$12,194

WHOGOTIT

$3,06822%

$2,32416%

WHOGAVEITFederal Reserve

TreasuryDepartment

$12,194

WHOGOTIT

$6,71148%

$3,06822%

$2,32416%

$1,260

9%


TreasuryDepartment

FDIC

Joint

$12,194

$1,823

WHOGOTIT

$6,71148%

$3,06822%

$2,32416%

$1,260

9%

$6545%


TreasuryDepartment

FDIC

Joint

Other

$ in billions, rounded

$12,194

$1,823

Wall Street* American Citizens**

WHOGOTIT

TOTALBAILOUT: $14TRILLION

$6,71148%

$3,06822%

$2,32416%

$1,260

9%

$6545%


TreasuryDepartment

FDIC

Joint

Other

$ in billions, rounded

$12,194

$1,823

Wall Street* American Citizens**

WHOGOTIT

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DATE FEDERALDEPOSITINSURANCECORPORATION AMOUNTOctober14,2008 TemporaryLiquidityGuaranteeProgram(TLGP)

58sumannounced,seebelow(notcountingtowardsthetotal) [$ 1,400,000,000,000]

December31,2008 EnhancedDepositInsurance(to$250K/account)59

700,000,000,000$

March16,2009 TemporaryLiquidityGuaranteeProgramDebtGuarantees(TLGP DGP)60

940,000,000,000$

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June16,2009 TemporaryLiquidityGuaranteeProgramTransactionAccountGuaranteeProgram(TLGP TAG)61

684,000,000,000$

Total: 2,324,000,000,000$

,November23,2008 Citigroupassetguarantee

62301,000,000,000$

January16,2009 BankofAmericaassetguarantee63

118,000,000,000$

February10,

2009 Public

Private

Investment

Fund

($500

billion

with

amaximum

potential

of

$1

trillion)64 1,000,000,000,000$

Subtotal: 1,419,000,000,000$65

Ban o Americaassetguaranteeterminate (118,000,000,000)

AssetguaranteelossesCitigrouphastoabsorb66

(41,200,000,000)$

Total: 1,259,800,000,000$

DATE FEDERALHOUSING ADMINISTRATION AMOUNTJuly30,2008 HopeforHomeownersFHA

67300,000,000,000$

DATE OTHERFEDERALHOUSINGANDFINANCIALSYSTEMSUPPORT AMOUNTNovember7,2008 IncreaseinGuaranteesbyGovernmentNationalMortgageAssoc.(GNMA)

68149,200,000,000$

November17,2008 IncreaseinGuaranteesbyFederalHousingAuthority(FHA)69

134,500,000,000$

January7,2009NCUA

Homeowners

Affordability

Relief

Program

(HARP)

and

Credit

Union

System

Investment

Program

(CU

SIP)

($8.4blnasof6/30/08)potential:70

41,000,000,000$

NationalCreditUnionAdministration(NCUA)TemporaryCorporateCreditUnionLiquidityGuaranteeProgram

March31,2009 (TCCULGP)71

15,200,000,000$

IncreaseinGuaranteesbyDept.ofVeteransAffairs(VA)72

10,600,000,000$

July27,2009 NationalHighwayTrafficSafetyAdministration(NHTSA)CarAllowanceRebateSystem(CARS)73

3,000,000,000$

Total: 353,500,000,000$

TOTALPOTENTIALSUPPORT: $14,016,537,000,000 Nomi Prins LLC 4


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OBLIGATIONSTHATHAVEBEENVIEWEDASENJOYINGAND"IMPLIED"GUARANTEE:

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DATE IMPLIEDGUARANTEES AMOUNTDecember10,2008 FHFAFannieMae/FreddieMacConservatorship

745,500,000,000,000$

December10,2008 FHFAImpliedGuaranteeofFHLBliabilities75

1,300,000,000,000$

Total: 6,800,000,000,000$

TOTALPOTENTIALSUPPORTINCLUDINGIMPLIEDGUARANTEES: $20,816,537,000,000

*American Citizens: Stimulus Bill, Recovery Act, Tax Benefits, Student Loans, Hope for Homeowners, Other Federal Housing and Financial System Support

** Wall Street: everything else

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TOPRECIPIENTSOFTHEFEDERALBAILOUT$450

$inbillions

Nomi Prins LLC 6

$41.2

$300

$350

$400

$450

$inbillions

$373.7

$41.2

$72.8$162.0

$3.6$150$200

$250

$300

$350

$400

$450

Repaid

Owed

$inbillions

$373.7

$181.8$63.1 $73.1 $43.4 $38.4 $25.9

$89.4

$41.2

$72.8$162.0

$25.0 $10.0$10.0

$3.6

$

$50

$100

$150

$200

$250

$300

$350

$400

$450

Citigroup* AIG Bank of JPMorgan Chase Goldman Sachs Wells Fargo Morgan Stanley Automotive

Repaid

Owed

$inbillions

$373.7

$181.8$63.1 $73.1 $43.4 $38.4 $25.9

$89.4

$41.2

$72.8$162.0

$25.0 $10.0$10.0

$3.6

$

$50

$100

$150

$200

$250

$300

$350

$400

$450

Citigroup* AIG Bank of America** JPMorgan Chase Goldman Sachs Wells Fargo Morgan Stanley AutomotiveIndustry

Repaid

Owed

* Citigroup's repayment value represents the losses it has to absorb from the Asset Guarantee.

$inbillions

** Bank of America's repayment value includes the $118 billion terminated Asset Guarantee Program.

DATE CITIGROUP AMOUNT ENTITY

October13,

2008 TARP:

Capital

Purchase

Program

76

25,000,000,000$

TreasNovember23,2008 Treasury,FedandFDICassetguarantee

77301,000,000,000$ Joint

TARP: Tar eted Investment Pro ram TIP78

, , , ,

asofOct.30,2009 TemporaryLiquidityGuaranteeProgram(TLGP)79

64,531,200,000$ FDIC

March17,2009 AIGSecuritiesLendingCounterparties80

2,300,000,000$ AIG

September30,2009 TARP:HomeAffordableModificationProgram CitiMortgage,Inc.81

2,089,600,000$ Treas

Subtotal: 414,920,800,000$82

sse

guaran ee

osses

group

as

o

a sor 41,200,000,000

CitigroupTotal: 373,720,800,000$

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DATE JPMORGANCHASE&CO. AMOUNT ENTITY March24,2009 MaidenLaneLLC(BearStearns)

11028,820,000,000$ FRBNY

October28,2008 TARP:CapitalPurchaseProgram111

25,000,000,000$ Treas

asofSept.1,2009 TemporaryLiquidityGuaranteeProgram(TLGP)112

40,458,900,000$ FDIC113

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, , ,

September30,2009 TARP:HAMP J.P.MorganChaseBank,NA114

2,684,870,000$ Treas

September30,2009 TARP:HAMP EMCMortgageCorporation115

707,370,000$ Treas

Subtotal: 98,071,140,000$TARPPaybackJune17,2009

116(25,000,000,000)$ Treas

ota : , , ,

DATE GOLDMANSACHS AMOUNT ENTITY October28,2008 TARP:CapitalPurchaseProgram

11710,000,000,000$ Treas

asofOct.30,2009 TemporaryLiquidityGuaranteeProgram(TLGP)118

19,521,100,000$ FDIC

17.March09 fromAIGFP119

2,500,000,000$ AIG

17.March09 fromAIGMaidenLaneIII120

5,600,000,000$ AIG

17.March09 AIGSecuritiesLendingCounterparties121

4,800,000,000$ AIG

AvailablefundingunderCPFFapproximately:122

11,000,000,000$ FRB

Subtotal: 53,421,100,000$TARPPaybackJune17,2009

123(10,000,000,000)$ Treas

Total: 43,421,100,000$

DATE WELLSFARGO AMOUNT ENTITY October28,2008 TARP:CapitalPurchaseProgram

12425,000,000,000$ Treas

asof

June

1,

2009 Temporary

Liquidity

Guarantee

Program

(TLGP)125 9,496,000,000$

FDIC

September30,2009 TARP:HAMP WellsFargoBank,NA126

2,475,080,000$ Treas127

September30,2009 TARP:HAMP Wac oviaBan ,N.A. 47,320,000 Treas

September30,2009 TARP:HAMP WachoviaMortgage,FSB128

1,357,890,000$ Treas

Total: 38,376,290,000$

DATE MORGANSTANLEY AMOUNT ENTITY October28,2008 TARP:CapitalPurchaseProgram

12910,000,000,000$ Treas

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July10,2009 ChryslerHoldingLLC TARP:WarrantySupportProgram/AutoWarrantyCommitmentProgramrepaid154

(280,130,642)$ Treas

July10,2009 GeneralMotors TARP:AutomotiveIndustryFinancingProgram(AIFP)repaid155

(360,624,198)$ Treas

July8,2009 GMSupplierReceivablesLLC&ChryslerReceivablesSPVLLC (ASSP)adjusted156

(1,500,000,000)$ Treas

Total: 89,375,314,131$

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Treas TreasuryDepartment

FRB FederalReserveBank

FRBNY FederalReserve

Bank

of

New

York

FDIC FederalDepositInsuranceCorporation

Joint TreasuryDepartment,FederalReserveBank,FederalDepositInsuranceCorporation

Due to the nontrans arent and com licated nature of the bailout modifications corrections or additions are not added retroactivel but, ,

during the month of their discovery.

Forquestionsorcommentscontact:[email protected] nom pr ns.com.

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151

152

153

U.S.DepartmentoftheTreasury,FACTSHEET:ObamaAdministrationAutoRestructuringInitiativeGeneralMotorsRestructuring,pressrelease:tg179,May31,2009,

http://www.treas.gov/press/releases/tg179.htm;U.S.DepartmentoftheTreasury,TARPTransactionReportforPeriodEndingJune17,2009,June19,2009,

http://www.financialstability.gov/docs/transactionreports/transactionsreport061909.pdf.

U.S.DepartmentoftheTreasury,TARPTransactionReportforPeriodEndingSeptember30,2009, October2,2009,http://www.financialstability.gov/docs/transactionreports/Transactions_Report_093009.pdf.

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154 Ibid.155 Ibid.156 Ibid.

. . epar men o e reasury, ransac on epor or er o n ng u y , , u y , , p: www. nanc a s a y.gov ocs ransac on

reports/transactionsreport_07282009.pdf.

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bailout tally dec 2009

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