10
12
2008
Wondering how much of your money will go towards “fixing” the problem?
Posted by: admin in mortgage industry
A great graph by EconomPicData shows just how much of the cash dolled out by Hank Paulson will actually remain in the system. The bottom line? From the $125 billion handed out to-date to the largest 9 banking institutions a mere $17 billion will go towards recapitalizing the system. The rest? Yup - bonuses and compensation.
My head just exploded.
From EconomPicData via Alternet:
It turns out that the nine banks about to be getting a total equity capital injection of $125 billion, courtesy of Phase I of The Bailout Plan, had reserved $108 billion during the first nine months of 2008 in order to pay for compensation and bonuses.
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