Great report out about the costs of the 2008 financial crisis. Total cost $12.8 trillion!
Instead of letting the banks collapse, write off debts and toxic crap, the banks and banksters were bailed out. TARP and $700 billion look like a drop in the bucket compared to the real cost to the economy. 2008 was a wake-up call for people with a brain. Hank Paulson bailed out his buddies at Goldman Sachs, and even provided insider information that Freddie and Fannie were about to go bankrupt. His pals probably made billions, and taxpayers got stuck with the $700 billion tab for their criminal behavior.
I’ll never forget, will you? Paulson’s bullshit testimony and fear-mongering; threatening martial law if the bailout wasn’t passed? One of the loudest public outcries against the bailouts in history. The criminals politicians voted the bailout down, and then two days later “poof”, Paulson makes a back-room deal with democrats and gets the bailout money anyway. That, to me, was the day our democracy died.