We want our money back

The US is starting to pare back its emergency support for banks and financial markets, Treasury secretary Tim Geithner said on Thursday, announcing that the state guarantee for the $2,500bn money market mutual fund industry will expire on schedule this month. Nearly a year after the collapse of Lehman Brothers helped tip the world into recession, Geithner said it was time to move from crisis response to recovery. He also backed a review by the FDIC bank regulator that is likely to end or restrict funding guarantees for banks.

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Who's gonna pay?

The total exposure of the US government to the financial crisis could hit $23.7 trillion, according to a watchdog report. Neil Barofsky, overseeing the Troubled Asset Relief Programme (Tarp), made the estimate in prepared remarks to a House of Representatives committee. The worst-case estimate represents the maximum exposure if all parties offered support requested maximum assistance. The figure includes all government and Federal Reserve initiatives.
That’s a huge amount of assets the US government is now involved in.

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Money for eveybody...

YRC Worldwide Inc is neither a bank nor a financial institution. In fact: it’s a truck company. One of the biggest in the States. This trucker is looking for TARP money to the tune of 1 bln USD.
That’s a lot of money for a private company. The reason? The government is asked for help in order to relieve pension obligations.
We know the pension situation in the US is a sort of mess after a decade of rampant speculation in all different kind of markets.
But begging for a federal bailout is one step further. More money will be printed, if the government steps up here.

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