Back in early October 2008 when the first tranche of America's bail-out to end bail-outs was first announced and was rung in at a mere $700 billion (bruited as a huge number back then, seems almost trivial now), the picture below was circulated here and there on the Web.

Back then some intrepid bloggers pointed out that $700 billion would basically take out all the outstanding mortgages in the USA.  Then the citizens would be free to spend up a storm, buy some health care, send their kids to university without getting a second mortgage, and so on.

Why did the government not use the taxpayer's money that way, one might ask ?  I suppose that would be overly socialist, no ?  And, it would screw up the bankers' and financiers' bonus plans to boot.

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Paulson and his colleagues and cronies are clearly well on their way to wrecking the (world's) economy, though to be fair they started well before October 2008.

Anyone know what has happened to the dog ?

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