Another mortgage bailout or another bank bailout?
"2. That $26 billion is actually $5 billion of bank money and the rest is your money. The mortgage principal writedowns are guaranteed to come almost entirely from securitized loans, which means from investors, which in turn means taxpayers via Fannie and Freddie, pension funds, insurers, and 401 (k)s. Refis of performing loans also reduce income to those very same investors."
How well have mortgage bailouts worked in the past? How much are the American people supposed to be on the hook for this yet again?
Here is a link that might be useful: link