So...here's my breakdown of the subprime mortgage crisis:
A bunch of stuff happened and now nobody's loaning money, which sucks because apparently our entire economy is based on borrowing.
So now the gov'ment is going to shell out to save the banks coincidentally almost exactly the same amount of money we spent on the Iraq war.
The theory, I guess, is we'll save the banks so that they'll have money to lend to small businesses and regular people who want to buy, say, a car or something.
There are a lot of things I don't get, and here's a few of 'em:
Why not just bypass the insane banks altogether, let THEM fester with the crappy loans, and give 700 Bil to small, local banks that DIDN'T fuck us over?
...or better yet, we'll, like, borrrow 700 Billion dollars from our children and lend it ourselves rather than give it to banks to lend to us.
And then there's the $100 Billion of discretionary spending for the President in this bill, which I don't much like. That dude spent his whole presidency trying to get unregulated discretionary spending. Remember that one time he wanted $40 Billion in discretionary spending for the Iraq war, where he'd get $40 Bil to spend any way he wanted with no oversight? Yeah, the Senate kinda shot that down. So now he's gonna get two and a half times that. I don't know about you, but I can't say I trust that man with a hundred billion dollars.