$700 Billion? Not based on data... just a really BIG number !?!?!
Submitted by WRellim on Thu, 09/25/2008 - 12:27
Where did they get that $700 Billion figure? Well, here's the truth from a Treasury spokesman, as reported in Forbes on Tuesday (buried in the middle of the article when it should be the headline):
"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."
from: http://www.forbes.com/home/2008/09/23/bailout-paulson-congre...
So, as the British would say, they pulled it out of their proverbial arse.
THAT is what they are claiming has to be implemented immediately (and it's also why they want virtually dictatorial powers -- because they haven;t a clue and want carte blanche... a literal bank check).
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the funny thing is
that this will soon be forgotten by the masses after the stock market rebounds. Not that the economic problems of the nation are resolved at all. But it will all die away. We will eventually all learn to love Big Brother.
don't think the stock market will be rebounding anytime soon...
NEVER, NEVER, NEVER, NEVER GIVE UP!
~ Churchill
Never, never, never give up!
subject of data
they cant cross that road, because if they did, the next question would be WHO is getting the handout, and that would be very valuable inside information, that the ones that know could sell for millions to there friends. I would guess Paulson, Goldman Sachs and JP Morgan made the list, and told Bernanke and Bush to sell it to the people.
dow up
over 240 points 9/25/08 central noontime