Thursday, March 5, 2009

The cost of Obama's proposed mortgage bailout plan

A New York Times article reports today that the administration's mortgage bailout plan is estimated to cost about $75 billion to "help as many as 4 million people avoid foreclosure . . .." I did the math: it works out to $18,750 per homeowner. While I don't have any benchmark, we should be able to accomplish this for a lot less .

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