700 billion is the requested amount to be paid by the bail out plan. Mortgage backed securities is the issue causing this problem. Government sends 1 million dollars for all home owners and requires the mortgage be paid off before check is sent. 250K of the 1 million is invested in Government Bond this would give about 2,800.00 per month is a dividend payment to each family. This leaves 750K of the 1 million to go to paying off the mortgage and the balance back to the homeowner. According to my math this would get the mortgage off the back of the bank and people would be debit free and able to spend money once again. 227 million not 700 billion. BAIL OUT MAIN STREET NOT WALL STREET.
I think you need to fix your calulator 700 billion is enough for every american to have a billion each.......................
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What should Congress do next about the financial crisis?
What should Congress do next about the financial crisis?
What should Congress do next about the financial crisis?
What should Congress do next about the financial crisis?
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Do the steps being taken by the U.S. government restore your confidence in the economy?