Tuesday, September 23, 2008

Rachel Maddown simple explanation of the bailout

She started her show last night with a very simple explanation of what happened to cause the financial meltdown and what the bailout really is! It is so simple that the uneducated or illiterate person can easily understand!

She said and I quote:

"What is this Wall street bailout and how is it being managed? Still taking shape, still hard to understand, lets try a metaphor. Money is Halloween candy and those Wall street bankers are metaphorically speaking are our six year old that went out and got more candy that we'd ever seen or imagined. And with all of that candy sitting there, we parents, the taxpayers, hired a baby sitter to supervise our child only instead of hiring a grown up that fears what happens when six yeas do what six year old's do best eat all of the candy all at once, we instead hired a a seven year old baby sitter, the Federal Government.

So what happened? The six year old ate more candy than it should have on the seven year old watch and got sick all over the carpet. And instead of paying and sending home the babysitter we get her take on this disgusting huge mess of a crisis we are now in the seven year old baby sitter now turns to us and says, well the problem is you are now out of candy. You're gonna need more candy."

She is exactly right and she went on to say the baby sitter we hired to watch over our six year old child, we should have known better than to hire her! She told us a a few years back what she thought of supervision! Now they want so much more candy that it is highly unlikely that much money exists. Seven hundred billion dollars worth with no questions asked!