From Mish's Global Economic Trend Analysis
To stimulate lending, the bailout plan will attempt to recapitalize banks. The method of recapitalization is best described as robbing Taxpayer Pete to pay Wall Street Paul. In essence, money is taken from the poor (via taxes, printing, and weakening of the dollar) and given to the wealthy so the wealthy supposedly will have enough money to lend back (at interest) to those who have just been robbed.
If you prefer comics, then you'll like this one from Sinfest:
2 comments:
wow, now cartoons? thanks for putting this in terms we can all understand. love you!
Hey, we can see our dot on your map! Damien and I have been enjoying your political comments. I think Damien is a bit more interested than me, which is unfortunate, since I can vote! Keep them coming.
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