Rantings of a Sandmonkey
Godot Basha offers the counter argument!
Will someone please explain why LIBOR keeps getting mentioned? It is mentioned by Godot Basha, and it was shown in a chart on the front page of the Wall Street Journal over the weekend, as well as in other places.
I thought LIBOR was for Britain’s financial system. Isn’t America’s equivalent the federal funds rate?
The danish government has taken a slightly different route compared to most other countries so far…
Here, the banks have agreed to contribute economically, along with the state, in laying out a safety net to ensure that ordinary citizens are covered. In other words responsibility for the situation is shared – a step up I should say…!
This bailout is just one more example of the indivisible handjob stroking irresponsible CEOs and CFOs with billions so that they can run the American economy even further into the ground. So much for Keynesian economics. If the goal is to stimulate the economy, why not give the money directly to the American taxpayers? We could do twice as much good for the economy by giving half as much money directly to hardworking American taxpayers. A bird in the hand is worth two in the bush administration.
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