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Remember this administration said that the Iraq War would be free, financed with oil money. Then they said it would cost $35 to 50 billion. Bush went apeshit when somoene said that and said it was a lie.
Then people said it might cost $100 billion.
Now people are thinking anywhere from $1 trillion to $3 trillion.
Do not trust the US govt at all when it comes to numbers. They are usually off by several thousand percentage points. This is a good example. Those banks just don't have some problems. They have huge fucking problems with houses they now own that no one will buy unless they are sold at 60 cents on the dollar.
The houses arent worth repairing, maintaining, or even evaluating.
They are all going to be dumped by someone, probably the US govt when they own most of them.
And how solvent is the USA now? Hmmm. Good Times.
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