Bush té un pla

Fins ara, la internacional mediàtica no es cansava de presentar-nos George W. Bush com l'apòstol del capitalisme salvatge, de la desregulació i de la globalització. Un ultraliberal, que en el sentit català del terme vindria a ser una cosa així com un escanyapobres. Però alhora de la veritat, el texà no ha fet fàstics a endegar el pla d'intervenció governamental dels mercats financers ,és important des del crack del 29. Un pla que, segons The Economist, podria fins i tot fer guanyar diners al Tresor nord-americà.

A bail-out plan would require staggering sums—as much as $500 billion—to provide meaningful support. As of June 30th, $10.6 trillion of home mortgages were outstanding (the vast amount current). Once authorised, the money may not be spent: mere knowledge of the fund's existence might restore confidence. And banks don't have to sell their mortgages to benefit; merely having a credible market price for those they hold could restore the confidence of investors. And if the Treasury is astute in its buying, it could even make money. After all, thanks to investors’ panicked flight to the safety of Treasury debt, it can now borrow for close to nothing. The Treasury would have to recognise that it could lose a lot of the money too: there’s a reason no one wants this paper. Still, even $500 billion, at 4% of GDP, is cheap compared to an average of 16% that banking crises around the world have cost in the past 30 years, according to the International Monetary Fund.