TITLE

Going BUST?

AUTHOR(S)
Kotlikoff, Laurence J.
PUB. DATE
September 2008
SOURCE
Forbes Asia;9/29/2008, Vol. 4 Issue 16, p16
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
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.
ACCESSION #
34939250

 

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