The USDemocrazy Economics correspondant has been a busy lad. First, he had to ingest the mountain of important economics news that is currently bombarding the concerned citizenry. Next he has to try and explain all this info to a dazzled USDemocrazy staff… This is what he taught us :
A US Treasury bailout for America’s troubled banks was outlined yesterday. The outline was made up of four parts.
Clean up toxic assets
Revitalize lending
Prevent home foreclosures
Ensure bank stability
Our economics guru then refreshed our idle memories with an outline of past Treasury programs. The new program, we were told, seeks to be larger and with new bells and whistles.
America’s baby faced Treasury Boss Tim Geithner announced this new plan… to mixed results (closer to torches and pitch forks then out stretched arms). Stock prices dropped due to concern about the vagueness of the plan( not a very good sign). Some also feared that the plan would not do enough (It is amazing how little 500 billion to 1 Trillion can make).
Well with this much money something’s sure to happen (even if that something is nothing). As long as our computers are not repossessed, the able team at US Democrazy will be here to explain these important happenings (or at least share in your confusion).
Image courtesy of www.ustreas.gov
