Bail us out

October 7, 2008

Recapitalise me, I will help the economy

Filed under: bank bailout, credit crunch — Tags: , , , , , — stanleymilgram @ 12:18 am

So there’s a financial crisis and the US government just handed over $700 billion to the people who created the mess. And it hasn’t worked.

You’re giving the money to the wrong people.These guys take home $300M, no wonder they’re not bothered. But the solution is here: Pay off the debts of everyone else.

Why? Follow these steps:

  • I’m in debt too!
  • Nobody gives me credit anymore.
  • I’m cutting down on my spending.
  • Consumer spending keeps the economy afloat
  • My debt is a lot less than the banks’ and I haven’t “leveraged” it against anything
  • Millions of other people in the UK are in the same boat
  • There’s no point guaranteeing our savings, you need to get us spending again

You see?

If the UK government and the Bank of England are going to keep handing over chunks of £40 billion in public funds to the banks because they don’t trust each other any more, then the least they can do is pass me £20,000 to get me economically active again, no?

OK, so it might cost the GRI a new dialysis machine, but the economy will be saved!

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1 Comment »

  1. You have a point, perhaps if the government had simply passed each of us £16k, instead of the banks, we would be able to kick-start the economy, maybe even put it into a bank or start our own financial institution…we could even buy shares!

    Comment by UK Voter — October 9, 2008 @ 7:52 am


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