$700,000,000,000
From Wizbang:
If the Treasury simply took the $700 Billion and started paying off taxpayer mortgages, they could pay off every mortgage in the country worth less than $75,000… Or put another way, $700 Billion could pay off well over half of all outstanding first mortgages in the entire country.
Do you really think they need this much money?
So I say we just take the cash and pay off half the mortgages out there and see what that does to the credit market and the economy. Are ya with me?
