Every one seems to be overlooking this

[shraby]

part of that bailout document with Paulson at the helm. "Outstanding at any one time means if his $700 billion ability to purchase drops to $50 billion, he has the authority to up it to $700 billion again.

Sec. 6. Maximum Amount of Authorized Purchases.

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

[Kurt_and_Hunter]

1. That appears to read that sales of assets can go back into the fund up to 700B

[shraby]

2. I read is as his having the power to put it back

up there even if he sells nothing but only buys the bad paper. There is no clarification, but it's up to him how to interpret it.

[thecrow]

3. Where do we read details of his "plan"?

A link?

[thecrow]

4. For those who would like to read the Act, it's here:

http://blogs.wsj.com/economics/2008/09/20/treasurys-financial-bailout-proposal-to-congress/

[Subdivisions]

5. We're overlooking this? I've personally seen at least

40 threads on this. In fact, I just came from reading a post exactly on this before clicking on yours.

[VP505]

6. I have no doubt that if allowed to proceed as written

they will roll that over as many times as they think they can get away with it.