Quote from: RodeoX on July 22, 2011, 05:03:16 PM

$16 trillion!
To give you an idea of how much 16 trillion is, I cant give you an idea of how much 16 trillion is.

To give you an idea of how much $16 trillion is... imagine every man, woman, and child in the US having $53,000 in their bank account, then put all those bank accounts together.

Or imagine every single Chinese person being owed about $12,300

Or imagine everyone in US having to pay $562 a month for ten years straight to pay off that loan at 5% interest.

It's A LOT, but not A LOT when compared to the scale of a whole country.

Also, do note they are "loans" not "grants." It's a bailout, but it's not a giveaway, and as we already know, has actually ended up being somewhat profitable for the government (repaid interest)

Question, though.

Quote

"No agency of the United States government should be allowed to bailout a foreign bank or corporation without the direct approval of Congress and the president," Sanders said.

Also, this part doesn't really make much sense...

Quote

Sanders said one thing already is abundantly clear. "The Federal Reserve must be reformed to serve the needs of working families, not just CEOs on Wall Street."

...since working families don't have the credit rating or substantial assets to qualify for such high volume, low interest loans Undecided

I thought the fed was an independent entity, not a federal agency?