Financial Rescue Approaches GDP as U.S. Pledges $12.8 Trillion - Bloomberg.com
The "stimulus" is the same as GDP now. At this level, it would pay for every single mortgage in the U.S. How "stimulating" would an extra $500-$2500/month for all those households in America be? Ask the average American if they'd be willing to deal with the "volatility" Bernanke et al. are protecting us from, caused by letting AIG collapse, if their mortgage was paid for. But, they aren't doing that with the money, are they? They're giving it to a select few of their banking buddies, that took 30-300x leverage bets and lost.
The "stimulus" is the same as GDP now. At this level, it would pay for every single mortgage in the U.S. How "stimulating" would an extra $500-$2500/month for all those households in America be? Ask the average American if they'd be willing to deal with the "volatility" Bernanke et al. are protecting us from, caused by letting AIG collapse, if their mortgage was paid for. But, they aren't doing that with the money, are they? They're giving it to a select few of their banking buddies, that took 30-300x leverage bets and lost.
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