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$700b. Figure Determined by the Treasury's Dept. of Made-Up Numbers

Posted by Wisco • 9/25/08 • Subscribe to this Discussion [RSS] • Report This Topic
Topics: bailout, Economy, financial, morons, news, treasury department, Wall Street

Political Wire (politicalwire.com/archives/2008/09/25/bonus_quote_of_the_day.html):

"It's not based on any particular data point. We just wanted to choose a really large number."

-- A Treasury spokeswoman, quoted by Forbes, on why the bank bailout will need $700 billion.

[Forbes' link: www.forbes.com/home/2008/09/23/bailout-paulson-congress-biz-beltway-cx_jz_b...]

Basically, they knew they'd need a stupid-huge number of dollars so, rather than do any actual number-crunching, they just picked a random stupid-huge number. Math is for pointy-headed, arugula-eatin', liberal intellectuals.

Your tax dollars at work (before they're flushed down the toilet).

User Comments

9/26/08

jan4insight

In case you didn't see this in the other threads:

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9/26/08

clioandme

Sounds about as thorough as the work they did on the Patriot Act and the war plans to invade Iraq.

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1. 9/26/08
  
  MidwestMom
  
  It's "The Administration that Cried, 'Wolf!' " as far as I am concerned.
  
  The credibility of Bush-McCain is completely shot at this point.
9/26/08

xmarks

Bush uses the same mentality on his job that I sometime use at mine: Just look busy. Where I grab a folder and march around the office, he starts an unprovoked war or throws a few hundred billion at something. Same thing really.

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9/26/08

satijournal

The candidates are going to be asked about it this evening. Should be interesting.

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9/26/08

jan4insight

Last night I posted these words of wisdom to my blog:

jan4geo-glow.blogspot.com/2008/09/notable-quote-from-fdr.html

Seems really pertinent to what we're facing today.

"Those who do not learn from history are condemned to repeat it."

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1. 9/26/08
  
  Wisco
  
  LOL! Here are my WoW from this morning:
  
  griperblade.blogspot.com/2008/09/mccains-folly.html
  
  It's a lovely late autumn morning. The birds are singing, the air is wonderfully cool and seems clean as you breathe it in, the coffee gurgles in the coffee maker, Washington Mutual has gone under -- the largest bank failure in history -- and guys in suits are really freaking out on cable news. The financial wonks are climbing the freakin' walls -- "Where's the bailout?" they ask. "Where's the bailout?" And somewhere in Washington, John McCain quietly craps his pants.
9/26/08

jan4insight

Well, at least Jon Stewart agrees with me:

www.huffingtonpost.com/2008/09/26/jon-stewart-bush-bailout_n_129588.html

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