So the great US banks became insolvent and the U.S government's solution is to print money and give it to them so that they can put it in their vaults and hence they can say they have been recapitalised and are now ready to do business.
They are ready to lend out the money that has been given to them by the taxpayers of the U.S.
I mean why didn't anyone else think of this solution. If the economy is about to collapse and the banking system is insolvent just print money (Wasn't that Pauline Hanson's solution to fixing the economy??).
Great economic policy and now lets get back to lending the money out and create another debt monster. Mind you the current debt monster has still to be dealt with.
My fear is that this is only the beginning. I cannot see how these banks are okay now after suffering such heavy losses.
The light we see at the end of the tunnel is a Steam Train heading straight at us, and this time no amount of Quantative Easing (Printing Money) will save the Global economy.
