How they came up with $700 billion - Top Stocks Blog - MSN Money
 
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How they came up with $700 billion

Posted Sep 25 2008, 06:17 PM by Kim Peterson
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How did the smart minds at the Treasury decide that $700 billion was the right amount for a bailout?

"It's not based on any particular data point," a Treasury spokeswoman told Forbes.com. "We just wanted to choose a really large number."

Good to know...

(Thanks to Andrew Sullivan for the link)

Comments

 

I think there needs to be another revolution  enough is enough this goverment is suppose to be by the people for the people: not special interest , not wall street , people should now start taking a stand:

So they wanted to push the bailout right thru.700 billion was just a nice big number and they really only needed 300 billion. Who tells the contracter to fix the house and bill me whatever.They can't even keep track of a couple billion dollars in Iraq that our own goverment is handling and Cheney's old company is stealing. At least if I'm paying I want the name changed to" BIG BALLS ST"

Do you honestly believe that after a bailout of this magnitude, that the average taxpayer will have easy access to credit - Not -

The banks will tighten up more than ever and even people with excellent credit won't be able to obtain loans.

Wait & see!!

Bush has not done one thing right in his eight years of office. He has distroyed our credibility,in the world  Taken us from the richest most loved country to the most hated,ruined the economey Took us to war by lies. Now he wants spend $700 billion dolars to make us well on his word. I think not.  Byron

I want to know, if the bailout is approved, how will taxpayers fund this atrossity when the market doesn't have jobs to support incomes that families need to have for a respectable living standard?? Job Market has dried up also!!!

I just think its time the people of the u.s stand up for what is in our best intrest......life and the ability to provide for our familys not work our asses off to cover bad decisions and this goes out to all the lenders and borrowers who knew they were getting into something they could not handle...but once again might as well tax us more...we'll never see any benifit from it though. kinda funny how the people of the u.s. feel but somehow once again its not reflected in real life, just pushed under the rug by big tycoons and politicians....get out of office and see how we live in the real world...DICTATORS in DISGUISE!!!!....well lately theres no disguise.. so no to 700bil bail out that will only help stockholders from losing their shirts...how about 700bil to create worthless jobs like our government...who were enacted to protect us not rule and screw us!!!

this one is for Tim....i was never given anything because i had no credit, american born, and own everything i have....so no i did not ask and i was refused over and over for homes that were in my affordability range....stupid ass it was a big scam to create "paper companies" worthless pieces of *** with less money in pocket than me..so to hell all who asked, gave, and recieved who now cant afford it....shame on you and yes you are to blame...i live in a 2bd house with my 4 kids and you f'd up my chances of ever owning anything for along time....go work for your extra money....dont borrow it from someone!!!!!!!!

The bankrupt people should be given a note to pay for there portion of the bailout so they will be kept from borrowing more money right away.

Then the people that did not borrow over their head should get tax credits for intelligence. The bankrupt house owners should be required to rent until they could qualify for a high collateral note/mortage...but this good sense will not happen.

$2293711.0649919… is what every American citizen should be paid by the Bush feds-admin instead of paying seven hundred billion dollars worth toward his family’s cronies and fraternal bone-head associates. That way each U.S. citizen can spend a quarter of this virtual “bail out” purse and invest/save the rest to rejuvenate truly the American economy.

How did I come to this honest figure? Simple mathematics !!

thats what im talkin about SeGuin......let us make our own mistakes by giving us a chance...problem is the rich dont spend and the working-class does it in necessity to live......so lets not cut our throats just to help the rich keep their money...it was their bad decision and everyone should not have to pay for it, just them...if i buy a car and it breaks down can i get a new car at taxpayer expense...dont think so.

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