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Web Letters | The Nation

Advice for Obama: Confront, Then Compromise

$3.3 trillion bailout for the banks

During the financial crisis, the Federal Reserve, using quantitative easing (printing money), loaned $3.3 trillion to bail out the banks. It is all right to spend that kind of money on the banks, but not pay down the debt or create a jobs program. It is the wages of ordinary citizens that support 70 percent of the economy. “ Fed reveal loans under court order,” Bloomberg news by Craig Torres, April 1,2011.

Pervis James Casey

Riverside, CA

Apr 8 2011 - 3:39pm

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