Not to worry. The Bush Administration, Paulson and our Congress have promised that we’ll make money off the bail-out. I can “feel” the dollars flowing in even now.
Yeah---that feels so good. Here's how we're gonna make money (/sarc) .
BOFA SAYS FED MAY GO 'BEAR'---Bloomberg----The US Federal Reserve may lose as much as $6 billion on a portfolio of mortgage-backed assets it took over from Bear Stearns Cos., according to Bank of America Corp. analysts. The Fed will announce on Oct. 23 its quarterly estimate of the fair value of Maiden Lane LLC's $30 billion of holdings that JPMorgan Chase considered too risky when it acquired Bear Stearns in March, Bank of America analysts Jeffrey Rosenberg and Hans Mikkelsen wrote in a client note. The central bank valued the assets at $29 billion as of June 30, according to the report. "With the worsening in mortgage markets since last quarter, we estimate a range of $2 billion to $6 billion of unrealized losses," the New York-based analysts wrote. About half the portfolio is backed by commercial mortgages and half by residential loans.
SOURCE http://www.nypost.com/seven/10032008/business/bofa_says_fed_may_go_bear_131960.htm