mackys asks What is a reasonable estimate for the ACTUAL value of the mortgage-backed "junk" securities that $810 billion of my tax dollars bought?
The answer to that question has fluctuated every few days recently, so note that everything I say could be wrong soon.
First, a timeline.
- US Financial System: OMG! We paid way too much for all these
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Comments 11
Yeah, but as a man my bodily fluids have no intrinsic value. ;D
Thanks for a very long non-answer. ;]
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I think I read somewhere that $2 billion could have paid off all the mortgages currently in default, and $500 billion could pay off half the mortgages in the USA. Given this, it's hard (or not) for me to understand how our idiot government came up with the idea of giving away $810 billion.
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