I don't think anyone knows where the 700 billion dollar number originated. Someone at Treasury was quoted as saying "we just wanted a really big number". The actual wording of the bill says UP TO 700 Billion, so it not like it will all be disbursed at once.
On Wed, Oct 1, 2008 at 4:26 PM, Judah McAuley <[EMAIL PROTECTED]> wrote: > What's your opinion then on the math I laid out. It seems to me that if we > are discussing buying up defaulted mortgages then the amount needed > shouldn't be anywhere in the 700 billion range. Yet that number is what > everyone on capitol hill seems to be using (even if the democrats want to > get there is steps). > > On Wed, Oct 1, 2008 at 1:17 PM, Maureen <[EMAIL PROTECTED]> wrote: > >> I read the bill. It says mortgage based assets. Some attempts were >> made to extend that to all debt, foreign or domestic Didn't happen. >> >> On Wed, Oct 1, 2008 at 12:08 PM, Judah McAuley <[EMAIL PROTECTED]> >> wrote: >> > Are you sure on that Maureen? I seem to recall it was originally listed >> as >> > "mortgage-related securities" and was deliberately kept vague in >> Paulson's >> > proposal so that the Secretary would have broad authority to purchase >> where >> > he deemed it would do the most good (or just wanted to I suppose). >> Perhaps >> > that language changed in the bill brought before the House? >> >> > > > ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Adobe® ColdFusion® 8 software 8 is the most important and dramatic release to date Get the Free Trial http://ad.doubleclick.net/clk;207172674;29440083;f Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:271837 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=11502.10531.5
