The amount being allocated for Fannie and Freddie is actually 700 billion. Divide that by 200 million and it works out that we are paying $3500.00 for every adult person in the US.

The real point is that this has to come from somewhere. If we do not pay it ourselve, it is being passed along to our children and grandchildren. That is a pretty bad legacy.

It does not even make sense for the amount to be that bad. Only about 5 to 10 percent of the mortgages are affected and there are only about 20 million mortgages involved. This works out to $350,000 to $700,000 per mortgage.

The loss of jobs is an issue, but for $700 billion, we can create a lot of jobs. That is 35 million jobs at $20,000 per year or 3.5 million jobs at $200,000 per year!

http://www.nypost.com/seven/09292008/news/regionalnews/its_murder_out_there_1...