Tuesday, September 23, 2008
Why The Bail Out Is Dubious
By Isaac Bickerstaff
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Frankly, I could expound upon the holes of what Treasury has proposed, but it really is summed up from Treasury's spokesperson cited below. When asked how Treasury arrived at the $700 billion number:
"It's not based upon any data point," a Treasury Spokeswoman told Forbes.com Tuesday. " We just wanted to choose a really large number."
Ah, life on the Potomac at its best. At least Social Security accounts weren't privatized to invest in these troubling markets.
Labels: financial meltdown, Wall Street
