June 14, 2010
A Hundered Billion Here, A Hundered Billion There, And Pretty Soon...
"The cost of fixing Fannie Mae and Freddie Mac, the mortgage companies that last year bought or guaranteed three-quarters of all U.S. home loans, will be at least $160 billion and could grow to as much as $1 trillion after the biggest bailout in American history."
First Published: June 14, 2010 8:30 AM
Comments from "Plugged In" Readers
we have known for some time that it will be at least $500B.
why? because our government raised the loss limit from $500B to "unlimited" in the quiet of the night around xmas. they wouldn't have needed to do that if they felt losses would be less than $500B.
on a side note: The losses will be far greater than any can imagine, BY DESIGN. Fannie, Freddie, and FHA are being used as back-door bailout vehicles for the big US banks.
The banks are stuffing F/F/F with toxic garbage. then when it all fails the banks can say "see, this is what happens when government tries to run things!"
Posted by: ex SF-er at June 14, 2010 10:30 AM
Is there a particular reason that hundred is spelled "hundered" twice in the title? Some pop culture reference that I'm missing?
Posted by: anon at June 14, 2010 12:16 PM
Some pop culture reference that I'm missing?The title is of course a reference to a famous quote from Everett Dirksen:
"A billion here, a billion there, and pretty soon, you're talking real money"…and perhaps the misspelling is the socketsite editor's attempt to indicate his pronunciation.
Posted by: Brahma (incensed renter) at June 14, 2010 2:52 PM
Yeah, I got the overall quote, just not the misspelling of "hundred" - perhaps you're right that it was supposed to mimic pronunciation.
Posted by: anon at June 14, 2010 11:22 PM