A Real Bailout

UPDATED: 9-26-2008: My math was off folks, sry. Fixed
-PS

Just got off the phone with a financial sector analyst buddy in Boston. Folks it's bad. Many small commercial banks with long-time relationships do not trust EACH OTHER enough to loan each other overnight funds to, for instance, loan a small growing biz enough money to meet payroll.

Also, he confirmed to me that he believes that this bailout will CRUSH the dollar more, and it ain't exactly a high flyer right now. Helllooooo $7 a gallon milk.

BTW, can just ON F**KING REPORTER OR DEMOCRAT ASK HANK PAULSON HOW MUCH OF THE $$ WILL GO TO HIM IN DEFERRED COMPENSATION WHEN GOLDMAN SACHS GETS THEIR PIECE?

After hanging up with my friend in beantown, I pulled out my handy calculator and started really thinking about how big a number $700 billion is.

Let's start small . . . how about that $85 billion spent(sorry! borrowed!) to bailout AIG:

To make the math simple, let's assume there are 200,000,000 U.S. Citizens 18+.

Our population is about 301,000,000 ± counting every man, woman and child. So 200,000,000 might be a fair stab at adults 18 and up. Divide 200 million adults 18+ into $85 billion that equals $425.

Yep, $425 to every person 18+.

Now . . . think about that $700 billion. An amount Paulson and Bush say they should be able to spend WITH NO OVERSIGHT OR ACCOUNTABILITY.

Just asking . . . who benefits the most? Paulson has 10's of millions in Goldman stock, and his net worth is already around $700 million.

Why does he need any help?

-Prodigal Son