$700B. is the bailout amount.
This is the list of Sedecca's "Dead Banks Walking" and their assets.
- Zions Bancorp (ZION)
$45B.
- KeyCorp (KEY)
$100B.
- Fifth Third Bank (FITB)
$111B.
- Washington Mutual ***Already Failed***
Assets = $330B. ***Sold for $1.9B. *** --> 5.7% of alleged value.
- National City
$150B.
- Regions Financial
$144B.
- General Motor/GMAC (GM)
$5B.
- Ford/Ford Motor Credit Co. (F)
$3B.
- Wachovia (WB)
$783B.
- CIT Group (CIT)
$90B.
Total, there are
$1431B. in assets between these banks.
Considering a 10% liquidation rate (which seems high when we look at WaMu's 5.7% sell-off) - We have
$1287B. remaining in bad debt. Money that can't be paid back.
These are just the ones
Sedecca considers almost certain to fail. This is not including several other "risky" banks.