THE COST SO FAR...

In addition to the $510 billion the banks have written off, the U.S. government has also pumped in 100s of billions:

Fed rescues AIG, Barclays buys Lehman U.S. unit
Wed Sep 17, 2008 5:26am EDT
By Tony Munroe

HONG KONG (Reuters) - U.S. authorities engineered an $85 billion rescue of insurance giant American International Group Inc, staving off bankruptcy and bringing a measure of calm to shell-shocked global markets.

The bailout, made amid a cataclysmic week for the financial sector, marks a reversal of Washington's vow not to step in and calls for the U.S. Federal Reserve to lend up to $85 billion to AIG for two years in exchange for a 79.9 percent equity stake.

AIG's bailout brings to about $900 billion the total of U.S. rescue efforts to stabilize the financial system and housing market.