re: #143 ron paul

Yes, and the banks were too happy to lend. There was one move that I think they could have made, at least it seems like it would have worked, which is to take the stimulus money and get it to the banks from the bottom up. Instead of giving it directly to the banks, they give it to the people, who will deposit it into the banks. Hence, folks could have paid debts, caught up on mortgages, bought cars and durable goods, and restocked the banks in one swoop.

I’m not sure how this is a bad idea. But as everyone was reading about the stimulus money, everyone was taking out their calculators and seeing exactly how bottom up would have helped. It came out to either 25,000 or 100,000 per family, or per person. I don’t recall which. But circulating that money up to the banks would have avoided a great many problems.