A view from the hinterlands about bailout money

[Jeff Tumbarello]

My premise is that if we fixed the mortgage market, it would fix the banks and the real estate market. We need to get these securitys balanced in todays world to function again

http://www.federalreserve.gov/releases/z1/current/accessible/l126.htm

These number are not perfect, there are probably about 2 trillion (low) outside of the reported numbers

10,541,700,000,000 Total Mortgages Per Fed Reserve
0.10 10 percent default rate
1,054,170,000,000 Amount of Defaulted Mortagges
0.70 70% loss per market
737,919,000,000 Amount to be charged off

I think we spent this much already? All we have done is take the money we had to use and basically shoot at the woodline.

I think Mr Obama just got handed an empty gun. He will have to borrow the money to get more ammo.

While our economy has more problems than just the mortgage market, if we fixed that..........