Financial Rescue Nears GDP as Pledges Top $12.8 Trillion

[MORTARDUDE]

It is time for those 50% of the adults that get off their lazy butts and register to vote, to realize what is going down. The international bankers run the world and our country thru the Federal Reserve. An entity, which by its own words, is ABOVE ALL of our the laws. The process described in this link began in Sept 2008 by Paulson and is a systematic process to bankrupt this country, with all the implications that that would lead to.

The only way we have to disrupt this, is to Flush the Congress in 2010.

Larry


http://www.bloomberg.com/apps/news?p...efer=worldwide

Financial Rescue Nears GDP as Pledges Top $12.8 Trillion (Update1)
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By Mark Pittman and Bob Ivry

March 31 (Bloomberg) -- The U.S. government and the Federal Reserve have spent, lent or committed $12.8 trillion, an amount that approaches the value of everything produced in the country last year, to stem the longest recession since the 1930s.

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.

President Barack Obama and Treasury Secretary Timothy Geithner met with the chief executives of the nation’s 12 biggest banks on March 27 at the White House to enlist their support to thaw a 20-month freeze in bank lending.

“The president and Treasury Secretary Geithner have said they will do what it takes,” Goldman Sachs Group Inc. Chief Executive Officer Lloyd Blankfein said after the meeting. “If it is enough, that will be great. If it is not enough, they will have to do more.”

Commitments include a $500 billion line of credit to the FDIC from the government’s coffers that will enable the agency to guarantee as much as $2 trillion worth of debt for participants in the Term Asset-Backed Lending Facility and the Public-Private Investment Program. FDIC Chairman Sheila Bair warned that the insurance fund to protect customer deposits at U.S. banks could dry up because of bank failures.

( there is more at the above link including a breakdown in dollars of all the money )