Taxpayers May Be Liable for Bear Mortgage Rescue
Bloomberg News March 20, 2008 (New York)
By Craig Torres and James Tyson

``Over 10 years, you might eventually get your money back,'' said Janet Tavakoli, president of Tavakoli Structured Finance Inc. in Chicago.

Still, ``that isn't costless to the Fed, it isn't the same as holding Treasuries,'' she said. On some low-documentation loans, ``you are going to be lucky to get 40 percent.'' [If the Fed overestimated recovery values, as the market has consistently done, the Fed will not recover 100% of the value reflected in the "market" price.]

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