Friday, January 14, 2011

Recovering The Too Big To Fail Bailout Money

A thought experiment: What would happen if...
1. Everyone in America maxed out their credit cards and donated the proceeds to the U.S. Treasury to pay as much of US debt as possible.

2. Everyone refused to pay their resulting credit card bill when it came due.

Net result: America pays off the debts incurred to rescue the banks?