Reply #27: Shedlock: Punishment Of The Innocent

[DemReadingDU]

From the wrapup link...

Taxpayers are on the hook. The Fed has already assumed a $29.5 billion responsibility in the take-under of Bear Stearns by JPMorgan (JPM). Now the Congressional Budget Office says Fannie, Freddie Rescue May Cost $25 Billion.

Rest assured the Fannie bailout will be $200 billion (if not far more), after Congress is done meddling.

Innocent taxpayers who sat this bubble out now are on the hook for hundreds of billions of dollars to bail out the drunken party goers. Losses are socialized. Profits go to the already wealthy. Sadly, that is how our corrupt system

direct link to today's wrapup...
http://www.financialsense.com/Market/shedlock/2008/0724.html