Surely that $700 billion dollars (which equals $2300/per each man, woman and child in America, or could buy a laptop for every child in this world, fund universal health care for 7 years, fund the entire education budget for 9 years, or buy 4600 McDonald's apple pies for everyone...) came from SOMEWHERE. A complicated formula, sure, but you don't just ask the American people to support giving Paulson free reign of billions of dollars no questions asked... do you?
LT
Click the link (title) for the full article, but....
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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