I was watching FOX News yesterday and one of the reporters said that a Trillion dollar bailout would cost Americans of $3600 each. This seemed like a high figure so I decided to do some research. The US Accountability Office issued a report last year, However, as of the latest quarterly data available, June 2007, more than 1 million mortgages were in default or foreclosure, an increase of 50 percent compared with June 2005. [..] Overall, the number and percentage of mortgages in default or foreclosure rose sharply from the second quarter of 2005 through the second quarter of 2007...
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WHY IS BAILOUT SO BIG?
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