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WASHINGTON — A funny thing happened in the drafting of the largest-ever U.S. government intervention in the financial system. Lawmakers of all stripes mostly fell in line, but many of the nation's brightest economic minds are warning that the Wall Street bailout's a dangerous rush job.
Originally posted by johnsky
Reading the paper here in Toronto today, it really put things in perspective for me.
700 billion, divided up across everyone in North America (US, CANADA, MEXICO) would give each person approximately $2,300 dollars.
... HOLY %%%%%
Just how bad off does the White house think the nation is?
This isn't a stimulus package, this is enough to START a nation.
But... seeing as it's coming from the same nation that's to use it... it's a delayed suicide attempt.
I understand the bailouts are necessary... but 700 Billion Dollars necessary?!
You just know who's going to end up with that money. And it's not going to be the hard working men and women in the industries. In fact, it's just going to make what money THEY have, worth even less.