Itemize the $700,000,000 bill
September 26, 2008 9:14 AM Subscribe
OK, here's $700b. Now what?
Paulson, Bernanke, et al, want $700b to stabilize the economy. I understand that they don't need all of it at once, but what, specifically, is this money being used for?
How much, more or less, does it cost to buy up all of the mortgage-backed securities that fall into whatever category the government sets as a bar (and, for that matter, how is the government determining which assets it needs to buy)? How much cumulative value has already been lost on these assets?
Side questions- I've heard a proposal that involves the government essentially picking up the tab on distressed mortgages. Assuming this same bucket of bad debt, how much per month is not getting paid toward our collective mortgage debt? To put it in perspective, how much is getting paid?
Paulson, Bernanke, et al, want $700b to stabilize the economy. I understand that they don't need all of it at once, but what, specifically, is this money being used for?
How much, more or less, does it cost to buy up all of the mortgage-backed securities that fall into whatever category the government sets as a bar (and, for that matter, how is the government determining which assets it needs to buy)? How much cumulative value has already been lost on these assets?
Side questions- I've heard a proposal that involves the government essentially picking up the tab on distressed mortgages. Assuming this same bucket of bad debt, how much per month is not getting paid toward our collective mortgage debt? To put it in perspective, how much is getting paid?
This post was deleted for the following reason: This has come up a couple times really recently, see below. -- cortex
This has been discussed extensively in other threads.
posted by Anonymous at 9:48 AM on September 26, 2008
posted by Anonymous at 9:48 AM on September 26, 2008
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posted by mkultra at 9:16 AM on September 26, 2008 [1 favorite]