Watchdog sees huge U.S. bill for banks bailout
Financial bailout's cost to U.S. could total almost $24 trillion
updated 1 hour, 22 minutes ago
WASHINGTON - The government's maximum exposure to financial institutions since 2007 could total nearly $24 trillion, or about $80,000 for every American, the watchdog overseeing the federal government financial bailout said Monday.
The whopping amount compiled by the inspector general for the $700 billion Troubled Asset Relief Program takes into account about 50 initiatives and programs set up by the Bush and Obama administrations as well as by the Federal Reserve.