NEED TO KNOW | The true cost of the bank bailout | PBS

http://www.pbs.org/wnet/need-to-know/economy/the-true-cost-of-the-bank-bailou... Much has been made of the $700 billion in taxpayer money used to bail out the banks in the Troubled Asset Relief Program (TARP). But Bloomberg News reporter Bob Ivry explains to NEED TO KNOW that the true cost was actually closer to $12.8 trillion. Need to Know airs Fridays on PBS. Watch full-length episodes of Need to Know at http://video.pbs.org/program/1458405365/

Category:

News & Politics

Tags:

• Bob Ivry
• Bloomberg News
• TARP
• bank bailout
• Wall Street
• Alison Stewart
• taxes
• Troubled Asset Relief Program
• Obama

[markdown01]

Thanks Obama? He had no control over that, nor did the others mentioned. These Presidents have no oversight regarding the Federal Reserve. You can blame them for appointing or re-appointing Bernake or Greenspan, etc.. It wouldn't matter. There would be no better option, all serve the banker elite. JP Morgan owned 90% of all US businesses in the late 1800s. That got broken up. He and his son went on to charter the creation of the Fed, and thus re-took control. Blame the bankers, they did it all.

[WithoutRemorse12]

@Slimjim6816 Actually its thanks Obama,Bush, Clinton, Bush, Regan, Carter, Nixon

[bzstylehive]

Read The Creature from Jekyll Island and learn that the Federal Reserve is a private bank! Read to see the people involved and how and why it got started! Believe it or not??

[jbrider555]

They did everything right? Bailing out mortgage security fraud? I don't think so.

[greylock1959]

This is full of misdirection of the truth.

[bertly71]

The bankers and the politicians were both in on it. It could not have happened without them working hand in hand. People from Wall Street go in and out of every administration with impunity. The revolving door is part of the problem here.

[NowThePeople]

Next time a they ask you for your payment, tell the lady on the phone that "I own part of your company thanks to George Bush my tax dollars have bailed out out". Then politely ask them for YOUR payment, since they owe YOU billions in tax dollars, when they sit silently on the phone, tell them "Well looks like I will need to send you to collections, you will be receiving a letter, have a nice day":})

[Drrck11]

Wow, Alison's come a long way since MTV. Such a serious news reporter now.

[1717jbs]

Fascism

[NikolaTeslaJohnGalt]

Its away to gauge how closely the public is paying attention, and checking the amount of de-sensitivity to the "man make history" conspiracy theory of history!

At least read "The Creature from Jekyll Island", if not the "None Dare Call it Conspiracy" which is easier cliff notes, so to speak.

[claudius2u]

Folks, it's funny that this video is sponsored by the Federal Reserve's Owners!

Go to "The true cost of the bank bailout " page in the pbs[dot] org website, and scroll to the bottom of that page. There you will see this message . . .

"Need to Know is made possible by Bernard and Irene Schwartz, The Rockefeller Foundation, . . . The Corporation for Public Broadcasting and PBS. Corporate funding is provided by Mutual of America.

[SamTexeira]

"The people out there across the country do care about this - they feel powerless however..."