Avoiding financing a big black hole
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2008-05-20 — ft.com
Now, though, the CBO says the last version of the bill it analysed will cost $2.7bn over five years. Any major investment dealer would be happy if their future housing finance-related losses could be limited to $2.7bn over five years.
We are actually suspicious of these estimates. If prices do not recover sufficiently, the losses may be closer to the sticker price of the program.
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