Wednesday, July 23, 2008
It could cost taxpayers as much as $25 billion to save the government-sponsored enterprises that control nearly half of the nation’s mortgages, according to a congressional budget expert.
The Associated Press says Peter Orszag of the Congressional Budget Office told lawmakers today “there’s a better than 50% chance” that the government won’t have to inject federal funds into Fannie Mae and Freddie Mac under a Bush administration proposal to shore up the financial giants.
But if the government does have to step in, Orszag says his office’s $25 billion pricetag is a good estimate.
This article was posted: Wednesday, July 23, 2008 at 12:45 pm