Where the Bailout Money is Going

CNN has a handy interactive chart, though Bloomberg, using slightly different math, gives us a figure of $12.8 Trillion, or over 90% of last year's GDP.

Meanwhile, as has been noted earlier, AIG has been cutting sweetheart deals with the banking giants, and now the GAO, the investigative branch of Congress, is saying that the Treasury Department is being too lax in its policies on repaying AIG counterparties, confirming once again that Tim Geithner is the large banks', and large Wall Street firms' bitch.

There is no need for AIG to pay off at 100¢ on the dollar here, and the insistence that they do so is an excuse to pump more money into insolvent banking giants.