22 Oct, 2008
Posted by: gauntlett In: Bailout|Credit|Debt|Federal Reserve|Finance
The theory was beautiful (well in the abstract)… Give troubled banks more credit and they will lend it out and the economy will stop its free-fall. Now, that sounds like utopia to me. Create credit and we will all be saved for unemployement, slowing production, decreased consumer spending, and rising interest rates. HOLD ON… let’s [...]
Ironic that WaMu’s collapse happens to coincide perfectly with this bailout proposal trying to be hurriedly pushed through Congress. It will for sure pass now <that was my take last night><now we are seeing major hiccups in the process (thankfully)>. We have been sold out by various individuals in the United States Government. Very unfortunate [...]
TURMOIL, FEAR, CRISIS, PANIC, COLLAPSE, SAVING THE ECONOMY, BAILOUT, CONTROL… Notice the progression from left to right. A few bumps in the road lead to an eventual bailout with control obtained due to matters rushed in a state of panic. Do people act rationally when they are paniced? NO Generally, they look for a solution. Someone [...]
