Why the Government Is Good at Helping Banks but Not People

We are really very good at helping banks. Last month, in no time at all, the federal government calmed a crisis that began at just a few institutions but threatened to spread throughout the financial system.

According to CNBC, within four days, banks had borrowed roughly $12 billion from a fund set up to give financial institutions access to favorable loans. Through more traditional borrowing routes, banks were able to acquire more than $300 billion. All this without endless political hemming and hawing from Congress, without the president’s signature, without action by...