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Sep. 25th, 2008 02:12 pmI'm under the weather, so i'm just phoning it in today. But this, i had to link to. At first i wanted to make sure it wasn't a spoof site or something.
Forbes.com reports, about the $700B cost of the mortgage bailout:
"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." (thanks,![[livejournal.com profile]](https://www.dreamwidth.org/img/external/lj-userinfo.gif)
mariacotto, ![[livejournal.com profile]](https://www.dreamwidth.org/img/external/lj-community.gif)
the_recession)
We just wanted to choose a really large number. There you have it, folks... quantitative truthiness.
ETA.mariacotto also also posts this: Asia Needs Deal to Prevent Panic Selling of U.S. Debt. If China and Japan blink, won't buy any more US Treasury bonds, and try to sell some of the ones they're holding, that mortgage bailout can have any number on it that Congress or the president want to put on it, it won't happen.
Forbes.com reports, about the $700B cost of the mortgage bailout:
"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." (thanks,
mariacotto, the_recession)We just wanted to choose a really large number. There you have it, folks... quantitative truthiness.
ETA.
mariacotto also also posts this: Asia Needs Deal to Prevent Panic Selling of U.S. Debt. If China and Japan blink, won't buy any more US Treasury bonds, and try to sell some of the ones they're holding, that mortgage bailout can have any number on it that Congress or the president want to put on it, it won't happen.
