Real Size of the Bank Bailout: $29 Trillion
I don’t agree with the premise – see here. But, John Carney get some credit for a smart analogy:
So this guy from (let’s say) Morgan Stanley walks into a bar.
He orders drink after drink. Downs a dozen or so high-quality glasses of Scotch. Does a few shots of tequila. Maybe grabs a beer at the end of the night.
The bar manager sees the condition the guy is in, takes a look at his tab. Sees the total amount of drinks he’s been served. Grabs the bartender aside and asks him a question.
“Bartender Ben, how many drinks did you serve that guy?”
“Just one,” Bartender Ben says.
“Ben! Be straight with me. I’m looking at his tab. Scotches. Shots of Jurado Tequila. A pint of Six Point. You served him a lot more than one drink,” the manager says.
“You’re looking at it wrong, my friend. You are adding up all the drinks I served him over the whole night. But at any one time, I only served him one drink,” Bartender Ben explains.
Just then the guy from Morgan Stanley looks up. His glass is empty again. “Bartender,” he says. “I’ll have a another.”
“See,” says bartender Ben. “Just one at a time.”


