How a Bailout Works
Here's how the bailout works in laymen's terms:
Lou moved to Texas and bought a Donkey from a farmer for $100.
The farmer agreed to deliver the Donkey the next day.
The next day the farmer drove up and said, 'Sorry son, but I have some
bad news, the donkey died.'
Lou replied, 'Well, then just give me my money back.'
The farmer said, 'Can't do that. I went and spent it already.'
Lou said, 'Ok, then, just bring me the dead donkey.'
The farmer asked, 'What ya gonna do with him?
Lou said, 'I'm going to raffle him off.'
The farmer said, 'You can't raffle off a dead donkey!'
Lou said, 'Sure I can. Watch me. I just won't tell anybody he's dead.'
A month later, the farmer met up with Lou and asked, 'What happened
with that dead donkey?'
Lou said, 'I raffled him off. I sold 500 tickets at two dollars apiece
and made $998.'
The farmer said, 'Didn't anyone complain?'
Lou said, 'Just the guy who won. So I gave him his two dollars back.'
Lou now leads the US bank bailout team.