Guess Which Bailout Plan Didn’t Work? THIS One.

From http://money.cnn.com/2008/11/13/news/economy/dodd_hearing/index.htm?postversion=2008111310:

"Banks are failing to use public funds to make credit more available and to help troubled homeowners," said Sen. Christopher Dodd, D-Conn. "Congress did not pass the bailout plan so banks could hoard the money or use it to scoop up faltering rivals," he said.

What?! The banks are hoarding?! Why, why, that’s so unexpected! It’s like giving a beggar money for food, only to find he’s spending it on alcohol!

Handouts don’t work, folks. I can understand handing out food, shelter, clothing, and healthcare, because not everyone has a social network they can rely on when their own finances fail, but you don’t hand out money. You just don’t.

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