And so goes the Troubled Asset Relief Program (TARP)… the government’s bank bailout plan has already lost 26% of taxpayer funds. Bean counters at the Congressional Budget Office (CBO) announced yesterday the current market value of the $247 billion in loans and purchases made by the Treasury through Dec. 31, 2008 has declined by $64 billion.
Wow. $64 billion… gone… in less than three months.
Meet Jerry Yang, last year’s World Series of Poker champion, and his $8.25 million prize. Jerry’s pile of winnings weighs more than he does… about 181 pounds.
How much does $64 billion weigh? Somewhere around 1.4 million pounds… if entirely denominated in $100 bills. Without a backhoe and tanker load of lighter fluid, we don’t think we could burn $64 billion as fast as the Treasury has lost it.
Thanks, guys.
Wow. $64 billion… gone… in less than three months.
Meet Jerry Yang, last year’s World Series of Poker champion, and his $8.25 million prize. Jerry’s pile of winnings weighs more than he does… about 181 pounds.
How much does $64 billion weigh? Somewhere around 1.4 million pounds… if entirely denominated in $100 bills. Without a backhoe and tanker load of lighter fluid, we don’t think we could burn $64 billion as fast as the Treasury has lost it.
Thanks, guys.
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