Tuesday, August 3, 2010

The bailouts total

I received this statement in an email from a financial institution.
Two weeks ago, we noted the most recent estimate of the financial system bailout: Over $3.7 trillion. Mr. Geithner could have written a $264,000 check to each of the 14 million currently unemployed Americans for the same price.

I haven't varified the figures, but I felt that if we gave each homeowner a voucher for 20% of the mortgage on their home up to $150,000 good only for a mortgage modification, we could have reduced the real estate crisis and helped both the home owners and the banks.

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