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Kevin -- I think what Stanley is pointing out is that $85 billion divided by 200 million people is $425 each, not $425,000.
WSJ has published "agreement on principles" that came out of negotiations before White House meeting. Agreement "requires that any transaction include equity sharing" and that Treasury "maximize and coordinate efforts to modify mortgages for homeowners at risk of foreclosure." The agreement would also require "loan modifications for mortgages owned or controlled by the Federal Government." Republican leaders came out of the White House meeting saying there is no deal.
Kevin -- could you please go back to wherever you cut and pasted this from and tell the author to redo the math. $85 billion divided among 200 million people is $425 per person, not $425,000.
