Yes, the House of Representatives has rejoined The Regime! We are supposed to believe that the very salvation of the economy has arrived because Treasury is going to float $700 billion or more in bonds (since Treasury does not happen to have $700 billion in spare change) and use the money to purchase a bunch of securities that presently have zero value.
Am I missing something? Since when did the purchase of worthless paper become an act of “saving the economy”? I thought that an economy produces goods that meet the needs of people, not produces goods of no value that people nonetheless pay billions to obtain.
Guess I need to go back to Keynesian School.
12:43 pm on October 3, 2008