U.S. moves to thaw credit for consumers - Economy in Turmoil- msnbc.com
So after all the hemming and hawing about $700 billion, I wake up to find another $600 billion in the mix like it's no big deal? I'm very confused. Where was the authorization for this, and why is giving more money to institutions going to have a different outcome than last time? Am I wrong to understand the banks simply hoarded the last bucket of money instead of lending? So now we expect CC companies to act differently? And now buying up toxic mortgages is a good thing again, after being a bad thing, after being a good thing? What the hell? This is not the way to instill confidence. At the same time, the markets seem to like it. Everyone's balance sheet keeps looking better, I guess.
So after all the hemming and hawing about $700 billion, I wake up to find another $600 billion in the mix like it's no big deal? I'm very confused. Where was the authorization for this, and why is giving more money to institutions going to have a different outcome than last time? Am I wrong to understand the banks simply hoarded the last bucket of money instead of lending? So now we expect CC companies to act differently? And now buying up toxic mortgages is a good thing again, after being a bad thing, after being a good thing? What the hell? This is not the way to instill confidence. At the same time, the markets seem to like it. Everyone's balance sheet keeps looking better, I guess.