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This Bailout Is a Bargain? Think Again

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JUST THE COST OF DOING "BUSINESS"
A Treasury estimate of the cost of the financial bailout leaked to The Wall Street Journal last week, put a price tag of $89 billion on the financial bailout. That’s far below the $250 billion the Congressional Budget Office estimated last year or other analyses that put the all-in number at $1 trillion or more, writes Gretchen Morgenson in the New York Times. Before we break out the Champagne, we need to look at the costs this estimate included — as well as those it left out, she writes. "A major factor missing from Treasury’s math is the vast transfer of wealth to banks from investors resulting from the Fed’s near-zero interest-rate policy."
SOURCE:   New York Times

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