Donald Trump says the Bailout Plan has Failed

Major investor and real estate tycoon explained to Greta von Susteren yesterday why the stock market continued to fall on Wednesday, the worst post-election day in history, what Bush did wrong during his term, and why the economic crisis will become worse in the coming months, possibly causing a recession reminiscent of the Great Depression.

It has been a total disaster, Trump said about the bailout plan. The banks are not funding deals, the banks are really a lot of money has been put into the banks, billions and billions of dollars, but they are not funding deals. It’s terrible.

“It’s scary,” Trump went on to say, “people are doing things they have never done before, they’re experimenting. It’s all one big experiment and nobody knows how the experiment is going to end. The banks were pumped up with money, but they are not loaning the money because if you have a prime deal, whether it’s real estate or any other deal and go to a bank, no matter how strong you are, you cannot borrow ten cents. I’ll tell you Grete, this could lead to something very, very bad for the country and for the world.”

The real estate tycoon then went on to explain what president-elect Barack Obama will have to do when he takes office. What he’s gotta do is he got to get the banks to liquify the system. There’s no money in the system, everyone is hording their money, the government is giving billions and billions of dollars to the banks and they use it to buy other banks. I guess they are using it to clean up their balance sheets but they are not using it to loan the people to go out and do deals.

“I’m not blaming anybody,” Trump said, “I’m just saying that this entire concept of liquifying the banks is not working because the banks are essentially not loaning the money.”