I’m sure I’m not the first to say this, but that $700 billion is going to the wrong people. What really should happen is that money should be going to the taxpayers in the form of a rebate. $3000 (probably more) to every individual who paid taxes in 2008. Some people would go on spending sprees, injecting this sad retail climate. The rest would be a little more pragmatic, doing what? Making a mortgage payment, depositing it in a bank account. All in all, it would boost consumer confidence, helping to correct the market scenario in a more “natural” way.
I couldn’t agree more.