Sunday, 5 October 2008
That $700 Billion Financial Bail-Out In Perspective
$700 billion is a lot of money. However, the payment is a one-off bail-out to restore liquidity in the banking industry. Something that affects everybody. Yet are there complaints about greedy fatcats who received billions of dollars every year despite only amounting to 2% of the American population? Here are some figures about US agricultural subsidies. Note that between 1996 and 2002 an average of $16billion per year was paid : that's $112 billion in seven years when things were going well. Perhaps those Wall Street bankers should wear plaid shirts and jeans in order to improve their PR.