$700 Billion Bailout Figures Made Up
Ever since we first heard that $700 billion was needed to bail out the greedy bastards on Wall Street, we wondered how Treasury Secretary Henry "Hank the Skank" Paulson and Federal Reserve Chairman Ben "Bonzai Bozo" Bernanke arrived at that figure.
An article at forbes.com - Bad News for the Bailout - tells us:
An article at forbes.com - Bad News for the Bailout - tells us:
That's right, folks, they pulled it out of their asses.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."