$700 Billion: 'Just a Really Large Number'

[Bonestorm]

Awesome:

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."

Basically, they dreamed up a really large number that they would like to dole out to their friends with zero oversight and created crisis rhetoric (and continue to use it) to get the Democrats to pass their final assault on the Treasury.

Screw 'em. At this point I wouldn't mind a depression out of sheer spite.


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

 

[LadyT]

Awesome:




Basically, they dreamed up a really large number that they would like to dole out to their friends with zero oversight and created crisis rhetoric (and continue to use it) to get the Democrats to pass their final assault on the Treasury.

Screw 'em. At this point I wouldn't mind a depression out of sheer spite.


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

If I handed in a forecast and told my VP that it "wasn't based on a particular data point, and that I just wanted a really large number"

I'd get fired.