In fact, some of the most basic details, 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.”
If anybody still needs a reason to be against one of the largest transfers of wealth from the middle class to the rich ever seen that should do it. Seriously, if that is the best justification for the price tag one has to wonder if George Bush is really Chicken Little…
(Hat tip to Matt Yglesias)
Filed under: Insanity