Argument: Bailout could cost more than $700b if mortgage assets collapse
"You won't believe where that $700-billion bailout figure came from". Los Angeles Times. 29 Sept. 2008 - The $700-billion figure that won't really end up being anywhere near the actual cost because no one knows what all those mortgaged properties are really worth now anyway? Which is the whole problem in the first place because the institutions holding that paper don't know the value of what they're holding either, which is why everyone suddenly got so frightened?
That $700-billion figure that won't really last because eventually the feds will sell off what they're buying and might even make a profit in the end as they did with the Chrysler bailout warrants years ago?
Jeffrey A. Miron. "Commentary: Bankruptcy, not bailout, is the right answer". CNN. 29 Sept. 2008 - The costs of the bailout, moreover, are almost certainly being understated. The administration's claim is that many mortgage assets are merely illiquid, not truly worthless, implying taxpayers will recoup much of their $700 billion.