Treasury Pulled the Number Out of Thin Air
Thursday, Sept 25, 2008
You know the $700 billion price tag of the proposed bailout?
Treasury pulled that number out of thin air.
In fact, some of the most basic details, including the $700
billion figure Treasury would use to buy up bad debt, are
"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."