Just saw the answer to why $700 billion for the bailout, as opposed to $100 billion, or a trillon, or whatever:
“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.”
The Treasury Secretary went on the morning shows on Sunday to dance around a pretty obvious question: Why are banks getting bailed out for giving subprime mortgages but the people who got the mortgages aren’t getting any help at all? There is also some serious speculation that Republicans are going to force Democrats to take [...]
Okay so we’re about to have a depression. Today the Wall Street Journal called for a WPA-era-style “Resolution Trust Corporation,” which is basically like Sarah Palin ordering the tofu stir-fry. Now I’m not sure who these Lehman Brothers are, if they’re hot, if they are willing to “play together” since they need the money, or [...]
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