Quote:
Originally Posted by jyl
The illiquid assets have value. The exact value won't be known until this all plays out and we see where US house prices go and what percent of Americans have been foreclosed on. The govt will eventually resell those assets, so the net cost of the plan will be $700BN minus whatever the assets are resold for.
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Yea, right. Crap like this has "value":
When it cost more to repair a house than the house can be sold for, or if it costs more to tear down a condemned structure than the resulting vacant lot will be worth, there is
no money to be made on the deal!
Don't believe the "fairy tales" about the government "making money" on any bailout!