Out of their asses
That’s where the $700 Billion figure came from, according to Forbes:
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.”
So, who has confidence in Hank Paulson right now?
(h/t OpenLeft)
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