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Friday, March 16, 2012

U.S. tab for European bailout hits $20 billion—and counting

America - Helicopter Bens's Bailout Nation. Hardly anyone is even concerned that we are bailing out foreign banks. Of course, Republican controlled media venues like the will never tell you how much Republicans spent bailing out foreign financial institutions nor will they ever advocate for ending IMF funding.
Currently, the U.S. has a total exposure to the IMF of $165 billion. Although taxpayers fund 17.72 percent of the IMF, they are currently paying for more than 20 percent of its outstanding loans. Part of the reason for that is because of an additional $108 billion the Pelosi-Reid Congress approved to the IMF in 2009, which included $100 billion in New Arrangements to Borrow (NAB) that the U.S. disproportionately funds. Overall, including the new Greek bailout, taxpayers are already $20 billion deep into bailing out European financial institutions..
Read the rest here 
The Examiner

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