That is what the Treasury Secretary said the bailouts are costing. It's now $600 billion and rising.
Given the Bush Administration's long track record in grossly understating projected costs (remember when the Iraq War would cost $60 billion, tops), we're probably into the trillion+ range.
None of the "masters of the universe" who brought this about are going to be living on the street. None of them will go to prison for bringing the economy of the United States to the brink of collapse.
Those fuckers all got incredibly rich and now we have to pick up the tab? We ought to be raising the top rate on income taxes for those who make more than a few million a year, from any source, to a scale so that they don't get to take home more than 100 times the average wage of the American worker.
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I swear, I'm just going to write all my creditors today and tell them I expect to be freed of my obligations. I won't profit from it, but I'll have money to live on then.
You'd have to have about a million times as much debt for that to work.
Oops! Now we know what the sound of flushing emanating from Washington was....
-- Badtux the Snarky Penguin
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