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Politics : PRESIDENT GEORGE W. BUSH
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To: American Spirit who wrote (378063)3/24/2003 5:46:02 PM
From: DuckTapeSunroof  Read Replies (1) of 769670
 
cost 300 billion with the S+L debacle.

>>> Your cost figures are long out of date.

>>> When interest on the bonds that were issued to bail out all of the fat cat investors (for every penny over the $100,000 insurance limit) is factored in... the cost is already over $1 Trillion, and climbing. $300 Billion was only the initial cost.

>>> Perhaps $1.5 trillion is a better estimate for the total cost to the American taxpayers by the time all the bonds are ultimately paid off... making the S&L boondoggle by far the most costly financial disaster in American history.
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