This just gets worse and worse.
Now I have to admit that I (not being an economics major) thought that infusing the banks with a bit of cash so they could/would loan again might be a good idea. A good idea as long as the government got the heck out of dodge when they were no longer needed.
However it looks by this recent article in the Washington Post that the government is going to force smaller banks to take these loans irregardless of if they want them or not.
Read it yourself (click on the box/words) -- and good luck to all of us. We may need it more than we think:
Wednesday, October 15, 2008
What does this bailout mean?
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2 comments:
Monica,
On Sunday I had a brief conversation with someone I bumped into and I asked what he thought was going on with the economy.
His response: "What economy?"
This is truly BIG.
Be well,
Tim
Yes it is Tim. Yes it is big--and a little bit scary. At least I am not 60 and trying to retire.
I unfortunately know some people that also don't understand the basic premise of this problem.
Being Joe six pack has it's advantages doesn't it? At least he must sleep well at night since he doesn't have to be bothered by these inconsequential economy issues.
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