“A billion here and a billion there, and pretty soon you're talking real money."

For all the focus on the historic federal rescue of the banking industry, it is the government’s decision to seize Fannie Mae and Freddie Mac in September 2008 that is likely to cost taxpayers the most money. So far the tab stands at $145.9 billion, and it grows with every foreclosure of a three-bedroom home with a two-car garage one hour from Phoenix. The Congressional Budget Office predicts that the final bill could reach $389 billion. --Binyamin Applebaum, The New York Times, "Cost of Seizing Fannie and Freddie Surges for Taxpayers" Link to original post: http://www.nytimes.com/2010/06/20/business/20foreclose.html?_r=1 Have a great weekend, y'all.