Posted by noncompos on September 21, 2008 at 12:29:02 from (71.32.254.104):
As I recall, the first reports of Henry's bailout plan mentioned "hundreds of billions" (in a context that implied 200 to 300 billion), then became 500 billion. Late Sunday, it was up to 700 billion, with a statement (I don't recall whether in an interview or on the net) that purchases would be limited to "...firms headquartered in the US". This AM, on Bob Schieffer, he denied ever saying 500 (acknowledging reports had said 500), admitted that 700 may not be enough, and stated purchases would be made from "...firms doing business in the US...". I missed part, and he may've limited foreign firms to those with offices in the US, which would still be a major broadening. There's a report on Shah Gilani that the Int'l Swaps & Derivatives Assn. estimates there are 65 Trillion $$$ in such instruments in effect...(the "T" is not a typo).
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