Going BUST?

Kotlikoff, Laurence J.
September 2008
Forbes Asia;9/29/2008, Vol. 4 Issue 16, p16
The article reports that the U.S. government has already freed companies, Fannie Mae and Freddie Mac on bail. It mentions that the two institutions make up 70% of Americans' mortgages and when these companies fail, they will have massive effects on the housing and financial markets. The author states that U.S. government's liability of its action is $70 trillion and this value could already cover government's projected future spending obligations and future tax receipts.


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