Treasury explains reason for $700 billion: “We just wanted to choose a really large number.”

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>In fact, some of the most basic details, including the $700 billion figure Treasury would use to buy up bad debt, are fuzzy.

>”It’s not based on any particular data point,” a Treasury spokeswoman told Forbes.com Tuesday. “We just wanted to choose a really large number.”

http://www.forbes.com/home/2008/09/23/bailout-paulson-congress-biz-beltway-cx_jz_bw_0923bailout.html

Okay. We’re fucked.

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About Jeff Q

I live in New Orleans. I have a Bachelors in Computer Science and a Masters in English Literature. My interests include ancient history, religion, mythology, philosophy, and fantasy/sci-fi. My Twitter handle is @Bahumuth.

1 thought on “Treasury explains reason for $700 billion: “We just wanted to choose a really large number.””

  1. Yeah and this is the guy we want fixing the problem. Honestly at this point, I don’t see how anyone can even be considering trusting this administration.

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