Posted AT 9:15 PM EST on 22/07/08
Subprime toll keeps growing for U.S. taxpayers
WASHINGTON — The cost to U.S. taxpayers of the mortgage meltdown keeps mounting, dredging up dark memories of the massive savings and loan bailout of the 1980s.
The Congressional Budget Office estimated Tuesday that saving troubled mortgage behemoths Freddie Mac and Fannie Mae is likely to cost the U.S. government $25-billion (U.S.) over the next two years.
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