Funny Money Friday: The Credit Crunch Fix

Money doesn't have to be boring! Each week, CreditBloggers.com takes a look at the lighter side of the personal finance world in a series called Funny Money Friday.

I'm not an economist or an investment banker...just a lowly credit expert...so all the news of recent credit crunch bailouts and bank rescue programs are a little above my pay grade. Maybe you're smarter than me. Can you explain this?

How is a government plan to encourage banks to issue subprime loans and to then buy those loans supposed to help us get out of a financial crisis caused by too many subprime loans and too much buying of those junky loans?

I don't know about you, but when I'm poisoned, "eat more poison" isn't exactly at the top of my to-do list. Is this one of those the-venom-is-the-cure situations like you'd see on MacGyver?

Have a great weekend!

Emily Davidson – A former TransUnion insider and a member of Credit.com's expert team. Emily writes about credit reports, credit cards, loans and personal finance as the CreditBloggers.com editor.

Comments

[Jim]

I think the buyout of Bear Stearns with the help of the federal government is almost welfare for the extreme rich. How can a company whose stock was valued over $150 a share a year ago be bought at $2 a share earlier this week with taxpayer dollars? The building they operate out of is probably worth a billion. Beyond that some of the executives sold off $9-50M worth of their own stock in the company before it tanked. Seems very similar to the Enron situation.