Financial Analyst: This Is The First Recession Since the End of the FIRST World War Where Government Help Isn’t Trickling Down to the American People
by George Washington
Banking expert Christopher Whalen (hailed by Nouriel Roubini as one of the leading independent analysts of the U.S. banking system) told the American Enterprise Institute that this is the first recession going back at least to the end of the first World War where government assistance has not trickled down to Main Street and ordinary Americans.
Because the banks are keeping the money and not loaning it back out:
Buy why aren’t the banks loaning the money back out? As I’ve repeatedly explained, the government has given the big banks many trillions in bailouts and subsidies. However, as I wrote in October 2008: