The $700B is not used to buy homes, but to buy the bad securities that got sliced and diced. According to Warren Buffett, $700B might not be enough. He said: “If we don’t get [this] solved next week, I may go back to delivering papers”. Here’s the whole article. Since he’s an adviser to Obama, if/when he wins, I can see even bigger bailouts in store. How deep will this rabbit whole go?
