“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.”
Fannie-Freddie Fix at $160 Billion With $1 Trillion Worst Case [Bloomberg]

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Comments from “Plugged-In” Readers

  1. Posted by ex SF-er

    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!”

  2. Posted by anon

    Is there a particular reason that hundred is spelled “hundered” twice in the title? Some pop culture reference that I’m missing?

  3. Posted by Brahma (incensed renter)

    anon wrote:

    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.

  4. Posted by anon

    Yeah, I got the overall quote, just not the misspelling of “hundred” – perhaps you’re right that it was supposed to mimic pronunciation.

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