TARP Came "Out Of The Air" | Capital Gains and Games

Don't review this from today's Washington Post if we have the diseased stomach or blood pressure problems. In the remarkable story, Neel Kashkari, the many who recognised of as well as ran TARP for Bush Treasury Secretary Hank Paulson, admits which the $700 billion figure came "out of the air." Here's the money quote:

"Seven hundred billion was the number out of the air," Kashkari recalls.... "It was the domestic calculus. we said, 'We do not know how much is enough. We need as much as we can get [from Congress]. What about the trillion?' 'No way,' Hank shook his head. we said, 'Okay, what about 700 billion?'"

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