bailout tally oct 2010

8/8/2019 Bailout Tally Oct 2010

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Nomi Prins LLC 1

by Nomi Prins and Krisztina Ugrin

October 1, 2010

SupplementalAnalysisfor

ItTakesAPillage:BehindtheBailouts,BonusesandBackroomDeals

WHOGAVEIT WHOGOTITi

$2,43831.1% $1,677

21.4%

Federal Reserve

Treasury

$3,514

$2,809

$2,51332.1%

$1,17715.0%

Department

FDIC

Other

$1,51144.86%

33.95%

$300.38%

Joint

$ in billions, rounded Wall Street GSEs American Citizens

.

TOTALBAILOUT: $7.8TRILLION

i

IncreasesofGuaranteesbyFHAandGNMA;WallStreetincludes:everythingelse.

AmericanCitizensincludes:Stimulus,RecoveryAct,TaxBenefits, StudentLoanPurchases,HopeforHomeowners,NCUAHARP,VAGuarantees,CARS.GSE'sinclude:FederalReserve&TreasuryDepartmentMBSandGSEPrograms,PSPAs,

Note:WallStreetdoesnotincludeFedinterestpaymentsonover $1trillionexcessreserves. GSEs

donotincludetheimplicit$6.8trilliongovernmentguarantee.

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DATE OTHERFEDERALHOUSINGANDFINANCIALSYSTEMSUPPORT AMOUNTasofJuly21,2010 IncreaseinGuaranteesbyGovernmentNationalMortgageAssoc.(GNMA)

78398,400,000,000$

79

Nomi Prins LLC 5

asofJuly21,2010 IncreaseinGuaranteesbyFederalHousingAuthority(FHA) 365,900,000,000$

asofJuly21,2010

NCUAHomeownersAffordabilityReliefProgram(HARP)andCreditUnionSystemInvestmentProgram(CU

SIP)($8.4blnasof6/30/10)potential:80

43,800,000,000$

asofJuly21,2010

NationalCredit

Union

Administration

(NCUA)

Temporary

Corporate

Credit

Union

Liquidity

Guarantee

Program(TCCULGP)81

22,400,000,000$82

asofJuly21,2010 IncreaseinGuaranteesbyDept.ofVeteransAffairs(VA) 43,600,000,000$

July27,2009 NationalHighwayTrafficSafetyAdministration(NHTSA)CarAllowanceRebateSystem(CARS)83

3,000,000,000$

Total: 877,100,000,000$

TOTALPOTENTIAL

SUPPORT:

$7,833,923,187,479

DATE IMPLIEDGUARANTEES AMOUNT84

OBLIGATIONSTHATHAVEBEENVIEWEDASENJOYINGAN"IMPLIED"GUARANTEE:

Decem er10,2008 ann e ae re e ac onserva ors p 5,500,000,000,000

December10,2008 FHFAImpliedGuaranteeofFHLBliabilities85

1,300,000,000,000$

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

TOTALPOTENTIALSUPPORTINCLUDINGIMPLIEDGUARANTEES: $14,633,923,187,479

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TOPRECIPIENTSOFTHEFEDERALBAILOUT

Nomi Prins LLC 6

$400

$450

$inbillions,rounded

$250

$300

$350

Repaid

$181.8

$411.6

$72.8

$210.4$22.0

$100

$150

$200

Owed

$3.3 $19.7 $32.8 $12.9 $5.1 $25.5

$72.6

$67.9 $40.5 $38.6$10.8

$

$50

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

DATE CITIGROUP AMOUNT ENTITY October13,2008 TARP:CapitalPurchaseProgram

8625,000,000,000$ Treas

November23,2008 Treasury,FedandFDICassetguarantee87

301,000,000,000$ Joint

November23,2008 TARP:TargetedInvestmentProgram(TIP)88

20,000,000,000$ Treas

asofOct.30,2009 TemporaryLiquidityGuaranteeProgram(TLGP)89

64,531,200,000$ FDIC

March 17 2009 AIGSecuritiesLendin Counter arties90

2 300 000 000 AIG, , , ,

September30,2009 TARP:HomeAffordableModificationProgram CitiMortgage,Inc.91

2,089,600,000$ Treas

Subtotal: 414,920,800,000$September11,2009 TARP:CapitalPurchaseProgramconvertedintoCommonStock

92(25,000,000,000)$ Treas

December14,

2009 Treasury,

Fed

and

FDIC

asset

guarantee

terminated93 (301,000,000,000)$

Joint

December23,2009 TARP:TargetedInvestmentProgram(TIP)repaid94

(20,000,000,000)$ Treas

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bailout tally oct 2010

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