Wednesday, July 23, 2008

A Piddling $25 Billion

The Associated Press is reporting that a bailout of Fannie Mae and Freddie Mac, federally supported mortgage lenders, could cost taxpayers $25 billion.

“’This is like two months in Iraq for something that involves, literally, market stability and (calms) global jitters,’ said Sen. Christopher J. Dodd, D-Conn., the Banking Committee chairman. Dodd said he hoped the legislation would clear Congress by the end of the week.”

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