Tuesday, March 19, 2019
Washington Post fact-checker Glenn Kessler claimed Sen. Bernie Sanders inflated the amount of taxpayer bailout money Wall Street received following the 2008 financial crisis. But Glenn on counted TARP money, which was designed to hide the full cost. Here is the truth for the 14 largest participants (excluding CBLS) measured in billions of dollars: Participant Total Percentage of total Citigroup $2,654.0 13.6% Merrill Lynch 2,429.4 12.4 Morgan Stanley 2,274.3 11.6 AIG 1,046.7 5.4 Barclays (UK) 1,030.1 5.3 Bank of America 1,0 17.7 5.2 BNP Paribas 1,002.2 5.I Goldman Sachs 995.2 5. I Bear Stearns 975.5 5.0 Credit Suisse 772.8 4.0 Deutsche Bank 711.0 3.6 RBS (UK) 628.4 3.2 JP Morgan Chase 456.9 2.3 UBS 425.5 2.2 All others 3,139.3 6.1 Totals $ 19,559. 100%
US taxpayers even paid out trillions for Banks in France, Germany, Switzerland and the UK.
Responding to Jones' rebuttal, Kessler -- who sparked outrage last year after his error-riddled Medicare for All "fact-check" -- argued that "there is a definitional issue about what one considers a bailout" and suggested that loans from the Fed may not fit his definition.
This argument sparked ridicule on social media, with critics accusing Kessler of playing word games to score cheap points at the expense of factual accuracy.
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