Most people think that the big bank bailout was the $700B that the treasury department used to save the banks during the financial crash in September of 2008. But this is a long way from the truth because the bailout is still ongoing. The Special Inspector General for TARP summary of the bailout says that the total commitment of government is $16.8T dollars with the $4.6T already paid out.
International debt has been increasing since 2011. These debts were primarily owed between financial institutions. Overall, net debts owed by debtor countries from 2011 through 2015 have increased by 30% – $3.4 trillion – in four years. This increase in debts between countries is being driven by the largest economies. Of the world’s ten largest economies, eight have sought to recover from the 2008 financial crisis by either borrowing or lending more, thereby further entrenching the imbalances in the global economy. The US, UK, France, India, and Italy have all borrowed even more from the rest of the world.