Investing to Wealth

Filed under: Bad news, Federal Reserve, Financial Crisis

How would you like it if the government spent 4 TRILLION dollars to bail out our banks? How would you like it if this $4 trillion dollars amounts to 1/3 of our Gross Domestic Product?

We started with $700 billion dollars. Then now there is talk of setting up a 'bad bank" to buy up toxic assets. Then some people started tossing around $1 to $2 trillion dollars. Now we are up to $4 trillion dollars..Goldman Sachs says that 4 trillion dollars is their estimate. Senator Schumer and a group experts have also come up with the $4 trillion dollar number The IMF has estimated $2 trillion dollars for this year.

At the same time the Obama team wants to take bold action to solve this problem once and for all.

Dear Mr. President: Use the next $350 billion dollars of TARP and set up a "good bank" that is solvent and let the banks take their losses. They created this mess. Don't worry about big banks going bankrupt. You will gain immediate support from the American people. An like Lincoln who said: "My paramount object in this struggle is to save the Union," so too our primary goal is " to save the Union," not the banks.

Would you like the government to spend 4 TRILLION dollars to bail out the banks? originally appeared on BloggingStocks on Fri, 30 Jan 2009 13:45:00 EST. Please see our terms for use of feeds.