Saturday, Jul 26, 2008
if borrowers do not repay, the government will
financial sense: Congress Taps Paulson's Helmet
With President Bush no longer threatening a veto, the subprime mortgage and Fannie and Freddie “bailout” bill is now sailing through Congress. In anticipation of its enactment, Congress had the foresight to raise the national debt limit to $10.6 trillion. Who says that politicians don’t plan ahead?
Once signed into law, the budget busting legislation will hand the Administration a blank check to prop up the ailing home lenders. The ultimate cost is anybody’s guess. I believe that the price tag will be higher than just about anyone imagines.
Posted by malct @ 02:53 PM (121 views) Add Comment
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