Biz: This bailout number is easily the biggest we’ll post today
- $9 trillion in emergency overnight loans made during the crisis source
- » Whoa! Did your heart just stop? Ours did too. It actually created a short delay in posting this. *whew* Now that we’ve caught our breath, let us explain. After Bear Stearns went under in early 2008, a special plan was put in place to offer emergency, quickly-paid-back loans to banks during the financial crisis to ensure they continued to run smoothly. All loans required collateral, all were low-interest, and all have already been paid back. The program also ended in May of last year, so no worries about any residual effects. But yeah. Have you ever seen $9 trillion? It would probably require dozens of Scrooge McDuck’s money vaults.
