Monday, September 29, 2008

$700 Billion Figure: Pulled Out of Thin Air

Wow, major kudos to for finding this story.

Forbes reports this:

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 Tuesday. "We just wanted to choose a really large number."

Full story at Forbes here.

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