Thursday, September 25, 2008

So what's next?

The master plan to privatize profits and socialize losses is now stall. This $700 billion dollar plan is massive. Can you imagine how much that is?
Say you have lots of $100 dollar bills, stack it up in front of you. 
It would be 3.9 inches high to be $1 million dollars. 
It would be 327 feets high to be $1 billion dollars.
It would be 43.4 miles high to be $700 billion dollars
That is about 3/4 of the Washington DC beltway loop or a bit longer than the distance between DC and Baltimore
This will cost every American family $10,000 

WaMu is seized by FDIC and sold off to JP Morgan for $1.9 billions. But the major cost would be the $30-54 billion dollars of write down on toxic loans

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