8.10.2009

somewhere there's a big pile of our money

The estimated population of the United States is 306,704,639
so each citizen's share of this debt is $38,055.75.

As you can see, the largest slice of the pie, over 40%, is owed to the Federal Reserve.
The above numbers are probably the low end of estimates and there's much more debt to come.

read the whole thing @ Kenny's Sideshow

oh and by the way, in addition to the very public way of getting screwed, collectively, by banks, the banks also screw us individually, and in private....

Banks make $38B from overdraft fees

US banks stand to collect a record $38.5bn in fees for customer overdrafts this year, with the bulk of the revenue coming from the most financially stretched consumers amid the deepest recession since the 1930s, according to research. The fees are nearly double those reported in 2000.

The finding is likely to increase public hostility towards the financial sector, which has been under political pressure to ease the burden on consumers by increasing credit availability and lending more fairly after being bailed out by taxpayers.

read more @ FT


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