Using the USA as an ATM machine. Were did all the real money go?
Someone got it, who has it?
"New pledges from the Fed, the Treasury Department and the Federal
Deposit Insurance Corp. include $1 trillion for the Public-Private
Investment Program, designed to help investors buy distressed loans and
other assets from U.S. banks. The money works out to $42,105 for every
man, woman and child in the U.S. and 14 times the $899.8 billion of
currency in circulation. The nation’s gross domestic product was $14.2
trillion in 2008."
http://www.bloomberg.com/apps/news?pid=20601087&sid=armOzfkwtCA4&refer=home
Jeff - 01 Apr 2009 00:25 GMT
> Using the USA as an ATM machine. Were did all the real money go?
> Someone got it, who has it?
[quoted text clipped - 6 lines]
> currency in circulation. The nation’s gross domestic product was $14.2
> trillion in 2008."http://www.bloomberg.com/apps/news?pid=20601087&sid=armOzfkwtCA4&refe...
Freddie Mac and Fannie Mae have been doing it for years, under Bush.