$3.43 Trillion & Counting

The real cost of the Wall Street bailout.

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$154

8/9/07: Fed and European Central Bank inject $154 billion into financial system.

$38

8/10/07: Fed injects another $38 billion.

$17.25

8/23/07: Fed injects $17.25 billion.

$31.25

9/6/07: Fed adds $31.25 billion in reserves to US money markets.

$29

3/24/08: Fed agrees to lend $29 billion to facilitate Bear Stearns acquisition by JPMorgan Chase.

$200

3/27/08: Fed injects $200 billion of Treasury securities.

$300

7/30/08: $300 billion Federal Housing Administration bailout passed.

$200

9/7/08: Quasi-nationalization of Fannie Mae and Freddie Mac accompanied by a Treasury pledge to back $200 billion of their losses.

$155

9/16/08: Fed agrees to pay $85 billion for 80% stake in aig. Also adds $70 billion in cash to keep credit flowing after Lehman Brothers fails.

$235

9/18/08: Fed injects $180 billion to shore up money markets and $55 billon in overnight lending to US banking system.

$480

9/29/08: Fed announces it will supply $330 billion to other central banks, triples supply of corporate short-term loans to $225 billion.

$700

10/3/08: $700 billion bailout fund passed.

$37.8

10/8/08: Fed authorizes another $37.8 billion for aig.

$540

10/21/08: Fed injects $540 billion into money market funds.

$144

10/27/08: Fed opens emergency commercial paper window, lends $144 billion in three days.

$100

11/6/08: $100 billion added to commercial paper facility.

$27.5

11/10/08: Fed gives aig another $27.5 billion.

total cost:
$3.4 trillion
Annual interest (at 5%): $170 billion


SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

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SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

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