haven't really fully realize the cost of this problem i think that's absolutely correct and even neil barofsky mentioned he his calculation it was twenty three billion dollars. twenty three trillion dollars ten trillion dollars more than even the new york times yes so the new york times they had calculated twelve truly am but he calculated twenty three trillion and that's because of certain backstopping he basically included everything under the sun every single commitment the government made even if there was collateral backing that so it was a much broader measure of how much the government had actually committed to these things sort of thing and of course he was the special inspector general of tarp and he resigned in march of two thousand and eleven because he was so disgusted with the process and i think we have a quote we can pull it from him the treasury is biting the football and it detracts from the massive moral hazard created because it makes the government's backstop explicit and incentivizing the exact same types of behavior that led to the last crisis and will almost certainly ca

haven't really fully realize the cost of this problem i think that's absolutely correct and even neil barofsky mentioned he his calculation there was twenty three billion dollars. twenty three trillion dollars ten trillion dollars more than even the new york times yes so the new york times they had calculated twelve but he calculated twenty three trillion and that's because of certain backstopping he basically included everything under the sun every single commitment the government made even if there was collateral backing that so it was a much broader measure of how much the government had actually committed to these things sort of thing and of course he was the special inspector general of tarp and he resigned in march of two thousand and eleven because he was so disgusted with the process and i think we have a quote we can pull it from him the treasury is biking the football and it detracts from the massive moral hazard created because it makes the government's backstop explicit and incentivizing the exact same types of behavior that led to the last crisis and will almost certainly cause th