Quote:
Originally Posted by marketsmart
what a fucking joke.. if the govt wants to free up credit then just take the 1 trillion and loan it to people themselves at a low rate..
the banks are all bankrupt, they just dont want to admit it...
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Basically that would be creating one large government owned bank. Those that are screaming socialism now would come uncorked at a program like this. Plus the sheer magnitude of the infrastructure that would be needed to set something like this up would take them many months, possibly years, to complete.
We need banks. This might not be the best way to go about it, but it is a way to bring the private sector into this and allow the banks to get rid of the toxic assets and use the money they get for those assets to being making loans to consumers and businesses again.