RJK

The Presidential Speech, in Context

icandoitdon has it exactly right.

This bill will not solve the problem, it likely won't help at all.

The economy isn't tanking because the banks stopped lending. The banks stopped lending because the economy is tanking.

In a collapsing economy the prudent thing to do is hoard cash and that is exactly what the banks are doing. They will take our $700,000,000,000, say "thank you very much" and hoard that cash as well.