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September 07, 2008

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Brick Oven Bill

Peter R. Orzag, representing our government, told us this on July 23rd, before Congress took their vote:

"A federal rescue of troubled mortgage giants Fannie Mae and Freddie Mac could cost taxpayers as much as $25 billion, Congress' top budget analyst said Tuesday."

http://brickoven.blogspot.com/2008/07/peter-r-orszag.html

Six weeks later the number being floated by Henry Paulson is $200 billion. I think it is quite a bit bigger still. Congress wrote a blank check with their legislation. The only limit now is the debt cap. Henry Paulson and Peter Orzag have a lot to answer for.

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