Another $800 billion to buy mortgages

[SamuelRSmith]

Soleron said:

FishyJoe said:
The problem I have with these interventions is that everything seems to be covered in a cloud. I'm not exactly sure where the money is going. I have no idea if billions are being fleeced out of the system or not. There doesn't seem to be a whole lot of transparency or regulation and for all I know Paulson is handing out checks to his buddies.

Yes. "Injected into the economy" could mean anything. Even leaving it in huge piles on street corners counts as injection. At the other end of the scale, no money could be changing hands at all and the $800b could be an accounting trick with adjusting the future, potential value of bits of paper. We also don't know where the money is cominng from, whether it is in bonds, conditional pledges to buy stuff the the future, actual printed money, etc., etc.

 

 Under the freedom of information act, you have the right to request any info on where this money is going and recieve an answer.

And the conservatives tried a side-stepping approach in the 1980s recession - that didn't work either (I don't know if it counts as deregulation, but it's essentially the opposite of what Labour is doing now).