After socialized mortgage lost, 700B is $2333 for each US citizen. Assume 300mil US citizen in US. 5090 F22 raptor fighter - 137.5 mil each 35 x current NASA budget 2.8 mil average US home out right. 7 x NASA International Space Station Budget. 140 Nimitz-class supercarriers ~1 Iraq war 1.8mil Porsche Carrera GT. Let's say your high school has 3000 students. That is 18 porsche for your school. 31 mil 1 kg gold bar - 1 for every 30 US citizen. 2 46 inch LCD for each US citizen Before this mortgage mess, we have about 8.2mil jobs in financial sector. That includes secretaries and bank tellers. Each on average gain $85,365 out of this mess.
What a bullshit this is. Like if financial sector did not help America to prosper for the past 100 years.... People are monkeys and you are their cheerleader - they are happy when everything works (+a little bit jealous about total comps in IBs) and have a free ride, e.g. huge consumption, no savings, leveraged to the gilt etc. Then when things turn sour they start to blame the easiest target available - and of course financial sector will be the first place where financial excesses are manifested. In these times objective thinking is nonexistent.
So let's say the government plan is approved and IBs get rid of the bad loans and clear up their books. And let's assume next year is business as usual and Goldman Sacks sets aside a $20B bonus pool to reward the smartness of their employees. I will laugh my guts out.
$700 bn buys... 2.8 billion depositor accounts insured upto $250,000 So let the banks go bust, small banks will become big, big banks will become small or zero !
700B can probably buy russia right now and a majority of africa as a bonus. You know.. we've got to increase the tax payer base somehow.
No. I am saying the financial sector is costing us money. If they never ask for bailout, they can earn zillion dollars for all I care. That's how capitalism work. However, no privatized gain and socialized lost Copy? Remember dot com bubble? Nasdaq 5000? How many internet companies are still around. Where is Nasdaq now? That's how it supposes to work.