New Bailout May Top $1.5 Trillion

Octavion — Tue, 10 Feb 2009 16:40:00 GMT

New Bailout May Top $1.5 Trillion
Washington Post
February 10, 2009

The gravity of the financial crisis confronting the Obama administration will come into stark focus today when officials unveil a three-pronged rescue program that may commit up to $1.5 trillion in public and private funds, and possibly more, lawmakers and other officials said.

Mortgage 'Cramdowns' Could be on the Way
Los Angeles Times
February 7, 2009

Proponents call them the crucial tool needed to get us out of the foreclosure morass. Critics say they could be disastrous -- pushing up interest rates on future mortgages, even for people with excellent credit, and creating huge new losses for already ailing banks.

In Florida, Despair and Foreclosures
New York Times
February 7, 2009

Desperation has moved into this once-middle-class exurb of Fort Myers, where hammers used to pound.

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New Bailout May Top $1.5 Trillion