Quote:
Originally Posted by macker
http://www.bloomberg.com/apps/news?p...OSw&refer=home
Obama will likely need to ask Congress for more money to recapitalize banks, as much as $1 trillion on top of the roughly $300 billion remaining in the current Troubled Asset Relief Program, according to an estimate by former Federal Reserve economist Ward McCarthy. That will be an even tougher sell for the new president than the stimulus plan, which is headed for a Senate vote this week after passing the House with no Republican support.
WOW! 1 Trillion!
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I read an insider news that the total amount of CDS is up to 6.3 trillion in total. 250 billion is only a hook for the downpayment for the entire amount.