Bailouts

[lvdkeyes]

Thought you may like this Economics 101 lecture in Financial Bailouts. Makes you feel good for a little while anyway until the next morning when the hangover wears off.

It is a slow day in a little Greek Village. The rain is beating down and the streets are deserted. Times are tough, everybody is in debt, and everybody lives on credit.
On this particular day a rich German tourist is driving through the village, stops at the local hotel and lays a €100 note on the desk, telling the hotel owner he wants to inspect the rooms upstairs in order to pick one to spend the night. The owner gives him some keys and, as soon as the visitor has walked upstairs, the hotelier grabs the €100 note and runs next door to pay his debt to the butcher.

The butcher takes the €100 note and runs down the street to repay his debt to the pig farmer.
The pig farmer takes the €100 note and heads off to pay his bill at the supplier of feed and fuel.
The guy at the Farmers' Co-op takes the €100 note and runs to pay his drinks bill at the taverna.
The publican slips the money along to the local prostitute drinking at the bar, who has also been facing hard times and has had to offer him "services" on credit.
The hooker then rushes to the hotel and pays off her room bill to the hotel owner with the €100 note.
The hotel proprietor then places the €100 note back on the counter so the rich traveler will not suspect anything.
At that moment the traveler comes down the stairs, picks up the €100 note, states that the rooms are not satisfactory, pockets the money, and leaves town.
No one produced anything. No one earned anything. However, the whole village is now out of debt and looking to the future with a lot more optimism.
And that, Ladies and Gentlemen, is how the bailout package works

[Gaybutton]

That reminds me of one of my favorite old riddles:

3 men check into a Hotel. They pay $10 dollars each, the standard price for a room. After going to their rooms, the manager remembers they have special going.. 3 rooms for $25. He gives the bellboy $5 to give back to the 3 men. The bellboy is not sure how to divide $5 evenly between 3 guys, so he gives them each one dollar. He keeps the remaining $2 - might as well give himself a tip. Since each man originally paid $10 and each got $1 back, now each man has paid $9. $9x3 is $27, plus the $2 the bellboy kept is $29.

What happened to the 30th dollar?

[lvdkeyes]

I have pondered that for many years.

[Jomtienbob]

Easy, the 3 guys each give the hotel owner $10.00, $30.00 total, of which the owner gives the bellboy $5. That means the owner now has $25, and the bellboy $5. Out of the $5 the bellboy now gives the 3 $1 each and keeps the $2.

What is the mystery?

[Captain Kirk]

No, bailout works thus.
Bankers take unearned bonuses until bank has no more money. Government give bank working man's money. Bankers give politician a directorship. Bankers old and new take unearned bonuses from newly filled bank. Bank runs out of money. Dumbest pricks on the planet vote for same politicians......