Treasury and Congressional aides were huddled together over the weekend to finalise details of a government plan to buy, potentially, hundreds of billions of dollars of distressed mortgage assets – a scheme aimed at clearing out these assets and restoring confidence to the banking system.
Some analysts say the bail-out of the financial system could cost the US government up to $1 trillion, taking a heavy toll on the economy. This includes the rescue of Bear Stearns, Fannie Mae and Freddie Mac, as well as AIG.
A small memo to the people who wrote this article: there is one critical fact you have chosen to carefully ignore.
It will not cost the US government "up to one trillion"; THIS BUYOUT WILL COST THE US TAXPAYERS UP TO ONE TRILLION DOLLARS.
Puts things into a clearer perspective when stated that way, doesn't it?!?