Monday, October 13, 2008

Bailout bull

Now I have to admit that most of the banking bailout conversation goes right over my head. I'm a liberal arts guy, so talk of liquidity and such loses me.

A week ago, I heard that we, the government, were spending $750 billion to bail out banks and Wall Street. Then today another $250 billion.

Next I hear that there is no shortage of cash, just a shortage of confidence.

Now what do you think would happen if we owed one of those same banks $50 and couldn't pay? I'm confident we all know the answer.

Sent from my iPhone.