Forum Post: About $3,000 for every man, woman and child, that's what TARP cost. About $250,000 for every man, woman and child is what the next Wall St, scheme is going to potentially cost. Thanks to BofA
Posted 11 years ago on Nov. 15, 2011, 3:04 p.m. EST by unarmed
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Time to stop protesting the protesters and start protesting.
Bloomberg reports that Bank of America (BAC) has shifted about $22 trillion worth of derivative obligations from Merrill Lynch and the BAC holding company to the FDIC insured retail deposit division. Along with this information came the revelation that the FDIC insured unit was already stuffed with $53 trillion worth of these potentially toxic obligations, making a total of $75 trillion.