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Treasury Pulled the Number Out of Thin Air
George
Washington's Blog
Thursday, Sept 25, 2008
You know the $700 billion price tag of the proposed bailout? Treasury
pulled that number out of thin air.
As Forbes
writes:
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."
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