Our American financial wizards have decided the banking industry needs another $800 billion - to encourage LENDING.
So, if I'm understanding this right, we give money to the banks, so they can LEND it back to us, thereby putting us (and our heirs) more deeply in debt.
I guess I'll never understand finances like this.
If the US actually has $800 billion, why not just give to us - and leave the banks out of it. (Unless we decide to put some of this newfound cash - that's really OUR CASH- into some of these banks.)
But then - what do I know?
Just that Webster's word of the year is "Bailout"