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about the current financial crisis and bailout plan, you can hear me on Wisconsin Public Radio with Ben Merens. It is a bit long (an hour). My favorite question on the Paulson Plan … “Where Do They Get that $700 Billion Number From?”

I actually have not seen a reasonable explanation for where it, in fact, does come from. My guess is that this is an upper-end estimation of the face value of the toxic mortgage securities that are sitting on various balance sheets (and does this include the half-trillion of toxic stuff sitting on the Fed’s balance sheet!). And if the securities companies themselves and the private market cannot seem to value this stuff, how the heck does Hank? The design of the auction is going to be really important. 

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