The Bailout Is NOT Limited to $700 Billion; Paulson Could Spend UNLIMITED Taxpayer Monies

Most people think that the proposed bailout will cost $700 billion. In fact, it is not limited to $700 big ones, and will probably go much higher.

Specifically, Paulson's draft bailout plans says:

"The Secretary’s authority to purchase mortgage-related assets under this Act shall be limited to $700,000,000,000 outstanding at any one time."

That means that Paulson could buy a couple hundred billion worth of assets one day, and then - a little later - buy another couple hundred billion, and so on.

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