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Why 700 Billion when losses are estimated to be 100 - 150 Billion

Why did they pluck that figure out of the air & why is it so much higher than the estimated losses?

Very good point Ant. I was wondering where they got that 700 idea from as well. I believe that most of them are crooks and they are all working together, so what's a few billion between friends. Besides it's on us anyway.


Don't steam me up Sam Grrrrrr.


Calm down, calm down, everything will be alright (possibly)


Because everyone wants a piece of the pie, and they figured as long as they were making a delicious filling, they would add more ingredients to it to make it even better.. Where did they get the 700, that is what the recipe called for. They decided that adding a little of this and a little of that is not going to make a difference since they are not paying for the ingredients or the pie anyway.


guess they just wanted the deficit to be 11.34 trillion.


HAHA - Of course (slap my forehead!) :)


They got so much money they can't decide where to spend it. That is why it is taking so long. The 700 billion figure was truly plucked out of the air. We are being raped.


The word 'Raped' has been waiting for this time in history to be used to it's closest distinction. And how! They are bending us over...


It very well could be that Bush was unable to get a mortgage from the Saudis to purchase an island in Dubai.


YEAH! You win!!


Creative accounting by the unaccountable, perhaps... Hey, Ant.....


Allo there :)


How else do you expect them to support their fams. put their kids through law school and pay for their wives and girl friends? not to mention all those wild parties, and other shady dealings that have to be financed.


It's just a little slice of the pie

John P:

They had to make sure they made it big enough to line their pockets to keep living their rich lifestyles.


I don't know where you got the 100-150 billion figure from, that 700 billion dollars won't even start to pay off what the banks are in the hole. No one knows for sure just how bad it really is and the worst may still be coming yet. Four closers
are still happening at a all time high and a lot of people about to lose there jobs. 


Banks are in the hole due to derivatives coming in to check.
The sum total of Sub Prime debt is estimated as above to a maximum of 400Bn


See the comment below you. I just noticed it after I'd written the above...
The debt you speak of is not Sub Prime, it's due to credit swap derivatives

BUD 28:

I've heard one trillion in phony paper the banks hold called 'credit default swaps", which are
some kind of 'trust me" derivatives that are supposed to cover bundles of subprime mortgages.
Does that make sense to anybody?


Thanks Bud; so they try to put the blame on lenders & borrowers who account for a small portion of the debt & hide the fact that they've been realizing phony profit from swap options on artificial swaps while long terming the losses.

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