$29 trillion dollar to bailout the banks. Barry Ritholtz writes about a study by the Levy Economics Institute of Bard College called “$29,000,000,000,000: A Detailed Look at the Fed’s Bail-out by Funding Facility and Recipient”. In it, the study looked at what the Federal Reserve lent or guaranteed.

The researchers took all of the individual transactions across all facilities created to deal with the crisis, to figure out how much the Fed committed as a response to the crisis. This includes direct lending, asset purchases and all other assistance. (It does not include indirect costs such as rising price of goods due to inflation, weak dollar, etc.)

The net total? As of November 10, 2011, it was $29,616.4 billion dollars — (or 29 and a half trillion, if you prefer that nomenclature).

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