The government as well as Fannie Mae and Freddie Mac appear to have no idea how big the bailout will be for the American Taxpayers to purchase defaulted mortgages to bailout investors, but it could be between $160 Billion to $1 Trillion. I’m not a statistician, but that seems to be an extremely large range. It shows me that they have no idea.
American Taxpayers will be responsible to pay this bill for Fannie and Freddie which of course just bailed out investors and bankers not only in the U.S. but around the world.
Americans seem more than willing to bear this cost at this point…until of course we can’t sell any more debt.