drdolittle
5 Dec 2008, 12:35 PM
Let me see if I have this right.
The treasury borrows money in the taxpayers name,
gives it to banks so
they can lend it to the public at a profit.
Justifying this as the economy will grind to a halt if banks are too insolvent to lend. I suppose justifying giving it to the existing banks under the premise that "they know what they're doing, experienced, etc"
If I'm wrong, please correct me. Please correct me.
The treasury borrows money in the taxpayers name,
gives it to banks so
they can lend it to the public at a profit.
Justifying this as the economy will grind to a halt if banks are too insolvent to lend. I suppose justifying giving it to the existing banks under the premise that "they know what they're doing, experienced, etc"
If I'm wrong, please correct me. Please correct me.