Sunday, September 28, 2008

Not a lot of money these days

Thank God the US Treasury, in charge of resolving the financial meltdown, are using appropriate reference to the extent of the problem, cold hard logic and statistical analysis to identify the appropriate extent of the bailout:

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 [on] Tuesday. 'We just wanted to
choose a really large number'.

Dr Evil couldn't have put it any better.


Mummy said...

As someone who works for a bank, this is the logic behind most decisions in the financial world

Claire said...

As someone who works for a bank, would you suggest that putting one's money under the mattress is increasingly looking like a good idea?

Mummy said...

About a year ago, when markets were good, my husband suggested I put all my savings into equities. Out of sheer laziness, and because I work for a bank and hate bothering with my own finances, I left it sitting in my savings account. He piled into equities.

I thought there was a limit to the enjoyment one could get from gloating, but I've not found it yet.

Claire said...

I am in the fortunate position of not having any savings to think about putting anywhere! In fact, the twins have more money than me, although I put their savings into the Bank of Scotland...eek!