Assume I had 500 dollars to give to one of two people. One says:I lost 500 dollars gambling. Would you lend me 500 dollars to cover my loss?
The other man says: I'm a little behind becauase my wife had an operation which cost me 500 dollars and I need it to tide us over.
Which would you lend the money to?
We have solvent banks that didn't gamble. They are small banks but very conservative. These are the banks that will help main street. Doesn't it make more sense to give the money to them then banks that gambled?
Who would yor rather have the money?
I never understod why the money has to go to the fat cat big banks.
Wednesday, October 01, 2008
September Comment of the Month: Bailout Small Banks
This comment got misdirected to an old post from April, but it's applicable now.