Today, the Real Economy Project of the Center for Media and Democracy (CMD) released an assessment of the total cost to taxpayers of the Wall Street bailout. CMD concludes that multiple federal agencies have disbursed $4.6 trillion dollars in supporting the financial sector since the meltdown in 2007-2008. Of that, $2 trillion is still outstanding. Our tally shows that the Federal Reserve is the real source of the bailout funds.

CMD’s assessment demonstrates that while the press has focused its attention on the $700 billion TARP bill passed by Congress, the Federal Reserve has provided by far the bulk of the funding for the bailout in the form of loans amounting to $3.8 trillion. Little information has been disclosed about what collateral taxpayers have received in return for these loans, sparking the Bloomberg News lawsuit covered earlier. CMD also concludes that the bailout is far from over, as the government has active programs authorized to cost up to $2.9 trillion and still has $2 trillion in outstanding investments and loans.

It is happening on April Fool's Day, but it is no joke. The Organic Consumers Association, upon whose Advisory Board I serve, is picketing chef Alice Waters' world famous Chez Panisse Restaurant, Cafe and Foundation offices in Berkeley, California, over the noon hour on April 1, 2010. The protest is a direct result of the growing controversy in the Bay Area where the City of San Francisco, through its Public Utilities Commission, has been giving away and selling thousands of tons a year of toxic sewage sludge to be put on farms and gardens. The nasty entropic stuff, filled with a potential stew of thousands of chemicals and microbes, has even been bagged by the PUC as "organic compost" and used by unsuspecting victims who would never have intentionally put sewage sludge on their home or school gardens.

What has this got to do with Alice Waters and Chez Panisse? Francesca Vietor, the Executive Director of the Chez Panisse Foundation, whose mission is to promote Edible Schoolyard organic gardens, is also the Vice President of the Public Utilities Commission.