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Little help here, people?
Does anyone know what this bailout is going to do for us? Main Street vs Wall Street, as they say?
An article, an opinion piece for laypeople, anything that can shed some light?
I don't like feeling dumb, and this makes me feel dumb as shit.
An article, an opinion piece for laypeople, anything that can shed some light?
I don't like feeling dumb, and this makes me feel dumb as shit.
posted by Mignon at 8:33 PM
Hey,
This American Life had a terrific, yet sobering, explanation of the whole thing. Broadcast in MAY!
http://www.thislife.org/Radio_Episode.aspx?sched=1242
I found it today looking for the same thing...
Bitch Ph.D.'s smart economist-type friend "Britfriend" (he's British, not Britney) gives his explanation of the deal here. In short, less available credit means businesses won't be able to borrow as much to keep themselves going, so a lot of people could lose jobs. And...I dunno. There was more detail over there.
A shorter, clearer explanation comes in Tom Friedman's NYT column today.
I'm just sitting here naked wondering, "Why hasn't Mignon posted in so long? Sometimes I think my needs, my bloggy needs, are very far down her priority list."
No, that can't be true.
According to this morning's paper, it didn't help all that much. The Dow's the lowest since 2004.
I still don't completely understand it. I'm coping by putting on some music and making homemade pizza. Lah-de-da...