700 billion.
This is an staggering amount of money. I am no economist but I suppose you could buy Exxon and Google outright with that kind of money.
Were it is going
Is there any chance some fast thinkers can get on some of this money.
Will there be new Government home loans? Is this a time to buy a house-From the Government?
Should I start a company called “Distressed Homes International” and apply for a 100 million dollar grant and buy up all the vacant property in my neighborhood?
How does this work?
“International” implies that you are some kind of dirty furriner. How about “Distressed Housing America Fuck Yeah”?
The Gubbmint is buying collections of home mortgages that have fallen so far in price that they endanger the status of their holders.
I just saw an article online that some analysts actually estimate that once the markets are settled, the deal may actually make money, because the idea of buying them back from the government won’t seem like such a bad idea, and the prices will probably be higher, then.