" Still, that unnerving figure — equal to more than a third of the yearly output of the United States economy "

I want to reiterate the size of this implicit government guarantee, from the NY Times:

"In theory, the funds committed for everything from the bailouts of Fannie Mae and Freddie Mac and those of the Wall Street firm Bear Stearns and the insurer American International Group, to the financial rescue package approved by Congress, to providing guarantees to backstop selected financial markets is a very big number indeed: an estimated $5.1 trillion.

Still, that unnerving figure — equal to more than a third of the yearly output of the United States economy — is mainly a sign of the urgency that government sees in tackling the financial crisis. It is not a total for what will be spent. The unlimited guarantees to backstop lending markets, for example, are temporary confidence-building steps meant to give financially sound banks the comfort to deal with each other. Other steps, like the bank investments, could well turn a profit if the banking industry’s fortunes improve later."

Please consider if we want to guarantee this kind of bailout again.