What could cost taxpayers more than $1 trillion

NEW -> Contingent Buyer Assistance Program
This could result in losses that are beyond the ability of the federal government

and the Fed to cover. This article from April seems strangly foretold.

http://money.cnn.com/2008/04/21/news/economy/fannie_freddie/

This is the point of capitulation for the housing market.

It could also be the tipping point for the American Economy.

How the Fed can bail out these 2 GSE`s and all the bad paper

they hold will bury us taxpayers in debt for another generation.

This will make the War in Iraq look like a Weekend Picnic from a cost standpoint.
 
What I can't understand is why Bush is so impotent on this. Does he really want congress to step in and turn it into a socialist program...more like canada or the uk?
 
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