Another idea to inject 700B credit

[poyayan]

Give each person a $2300 5 year CD account, you can't touch it for 5 years at fix rate. You can specify which bank you want the CD in though.

Now, you have 900B as deposit in the banking system. Definitely not bailing out any fat cats and boost deposit.

Yay? Nay?

 

[arealpissedgoy]

Quote from poyayan:

Give each person a $2300 5 year CD account, you can't touch it for 5 years at fix rate. You can specify which bank you want the CD in though.

Now, you have 900B as deposit in the banking system. Definitely not bailing out any fat cats and boost deposit.

Yay? Nay?

And how does this benefit Goldman Sachs?

 

[acerbits]

Quote from arealpissedgoy:

And how does this benefit Goldman Sachs?

goldman will change the beneficiary name to it self than blame it on a computer glitch.

 

[poyayan]

Quote from arealpissedgoy:

And how does this benefit Goldman Sachs?

Isn't the goal is to inject money into the banking system without giving an impression as handing out free money to banks? GS can merge with a real bank.

 

[hottpotat0]

i second that motion-but it is not money spent into the economy-trickle up needs one hundred times more in our hands to work

 

[dhpar]

Quote from poyayan:

Give each person a $2300 5 year CD account, you can't touch it for 5 years at fix rate. You can specify which bank you want the CD in though.

Now, you have 900B as deposit in the banking system. Definitely not bailing out any fat cats and boost deposit.

Yay? Nay?

i do not see anything wrong with it. reserve requirement is 10% so we are talking about 800b (and fed will pay interest on reserves anyway). it will increase private savings which can be used more efficiently then public ones - and funded at low treasury yields from chinese. you invented perpetuum mobile...of course the public debt needs to be paid one day - taxes can take care of that...