So Wall Street gets its $700 billion dollars. Will this be enough to cover the true costs of the “worst financial crisis” since the Great Depression? Or should we be expecting the other foot to fall? The Bush Administration was saying as recently as March that the banks in need of federal help were in good shape. If a crisis of this sort could creep up on us so quickly, what other sorts of messes in the financial services sector should we expect? Or are we out of the woods? What are your thoughts?

I found the following on cnet.com. Interesting breakdown.

Cost to taxpayers (Source: Reuters)

Financial bailout package approved this week up to or more than $700 billion

Bear Stearns financing: $29 billion

Fannie Mae and Freddie Mac nationalization: $200 billion

AIG loan and nationalization: $85 billion

Federal Housing Administration housing rescue bill: $300 billion

Mortgage community grants: $4 billion

JPMorgan Chase repayments: $87 billion

Loans to banks via Fed's Term Auction Facility: $200 billion+

Loans from Depression-era Exchange Stabilization Fund: $50 billion

Purchases of mortgage securities by Fannie Mae and Freddie Mac: $144 billion

POSSIBLE TOTAL: $1.8 trillion+

NUMBER OF HOUSEHOLDS PER U.S. CENSUS 105,480,101

POSSIBLE COST PER HOUSEHOLD: $17,064+

Haven't you heard? According to "W", we're not even in a Recession yet! I'll only start to worry when a "W" calls this a Recession. If it's ever announced, I can't imagine how bad the economy will be.

Whadda ya mean, "what's next"?? You'll continue to exist in your illusional and fanciful existence. Catatonic....

Shhhh.