Holy crap.
Sep. 25th, 2008 05:20 pm![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
nonelvisIt's not like I have any faith at all in the current administration, but this is just astonishing:
In fact, some of the most basic details [of the Wall Street bailout plan], 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."
Apparently there is no one in the entire U.S. Treasury Department qualified to even make a guess at how much this bailout could cost. After all, it's not like anyone over there is responsible for "[Serving] the American people and strengthen[ing] national security by managing the U.S. Government's finances effectively, promoting economic growth and stability, and ensuring the safety, soundness, and security of the U.S. and international financial systems."
We are so screwed.
In fact, some of the most basic details [of the Wall Street bailout plan], 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."
Apparently there is no one in the entire U.S. Treasury Department qualified to even make a guess at how much this bailout could cost. After all, it's not like anyone over there is responsible for "[Serving] the American people and strengthen[ing] national security by managing the U.S. Government's finances effectively, promoting economic growth and stability, and ensuring the safety, soundness, and security of the U.S. and international financial systems."
We are so screwed.
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no subject
on 2008-09-27 12:10 am (UTC)In hindsight, all that Wag the Dog stuff looks a little silly.