I'd never heard of Uncle Jay until my friend Sunni Jeffers sent me to his web page. And I had never fully grasped the banking crisis until Uncle Jay explained it to me. Ah, now it makes sense. And now I'm even more depressed. When will we learn that throwing money at a problem doesn't solve the problem?
Anyway, check out Uncle Jay here. Then you can join me in feeling glum and less dumb. :-/
~~Angie
4 comments:
to add to Uncle Jay...and, when the private companies fail, stockholders loose everything they have in the companies. There are companies now who are borrowing money--yes, borrowing money--to buy back their own stock in order that their assets are larger and they appear more solvent.
(my husband is walking around asking questions and saying, "What would Uncle Jay think?)
Thank you. Now, I'm going to go suck my thumb.
I want my blankie...
It sounds amazingly similar to when George explained it all in It's a Wonderful Life, doesn't it?
George and "It's a Wonderful Life--" that's about my level when it comes to economics.
I'm hoping Uncle Jay will explain the bailout plan for us. :-)
Angie
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