AIG Bailout Money goes to European Banks.

by Thomas Paine | March 17th, 2009

We face an economic crisis. (Well, at least last week it was a crisis. This week, the economy is not as bad as we thought.)

I   am encouraged. If you look at the priorities of the government, we have nothing to worry about. (I determine priorities by looking at what people do, not what they say.)

As per the Wall Street Journal, $20,000,000,000 of our money went to European banks to bail them out.  If we have the resources to bailout foreign banks, clearly our own house is in order. Oh, wait.

And while we are on the topic of bailouts, and stimulus, and bloated spending bills, and TARP and TALF ad nauseum, I have a question. When I was in school, they taught us to adjust one variable, watch for a result and then draw a conclusion. I used this same method when I was fixing cars and restoring airplanes. We have now thrown everything, including the kitchen sink, at the economy. How could we possibly tell what is working and what is causing damage? Certainly, we can not rely on the media to tell us the truth.

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