Where Does the $700 Billion Bailout Size Come From?

2nd Oct, 2008

Where Does the $700 Billion Bailout Size Come From?

Here’s an example of the absolute recklessness of the current bailout mess. An article from Forbes ought to make all Americans go berserk on the members of Congress that are voting in favor of this thing:

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.”

Are you &*#%@%^ kidding me?!?!

Source.

Posted by: GRPundit

Categories:

2008 Government Bailout

Responses

When I read that last week I nearly spit up my coffee on my keyboard.

By: Rollnggrnade on October 2nd, 2008
at 16:09:45

[...] we were told that if the Federal Government didn’t spend $700 billion (a figure pulled out of thin air) to buy “toxic assets” from failing banks, that the world would end. Then, this week, [...]

By: Pigs Feeding at the Trough of Government Largesse | Grand Rapids Pundit on November 14th, 2008
at 17:18:35