Moon Kil Woong

$800 Billion for RTC 2.0 - Then What?

You are so correct. The longer banks refuse to clear their losses and the government allows them to hide it the longer the pain will remain and the accompanying recession. For Japan it took over 20 years. The issue is contraction of the money multiplier, not only defunct mortgages (which are only one of the ramifications). If Paulson and Bernake don't know what a average high school economy class teaches they should all resign. Will they pay my credit card bills when there is a contraction of defaulting credit cards? Or maybe just give $500 billion dollars to Visa and Master Card? Why don't they read the communist manifesto to us while they are at it. Apparently those that need it the most are corporations, and those that can give the most are taxpayers.