The BIG Bailout

[SirMoby]

Originally Posted by Jim

Someone probably would if you being broke caused millions of others to be broke

Something has to be done to release credit again. I have spoken to a few friends that own businesses and they are hurting more than any of us. One, a car dealer, can't seem to get anyone a loan. Another, the owner of a large office furniture manufacturer, could not get this weeks payroll and...their building loan went from 1.3% to over 3 percent. The increase of the loan is about $8k/week.

OK, so let's start a tax payer run bank that has $700 Billion in loans and it gets distributed evenly to communities based on census data.

Oh yeah, the people that get to run it are the people in the local communities. Some will be fucking crooks and some won't but none of them will have enough money for Wall Street to make them crooked.