he's right though.
The easiest thing for this bunch of pricks to have dome was to give the banks the bail out, on the condition that they forced sale of mortages.
In that way, banks got their securities back, the government had the means to recoup the interest on it's bail out, and as far as kickstarting lending goes, then the banks having no longterm securities to trade would be more than willing to get on their knees and stroke your balls in order for you to move your mortgage to them once more.
An over simplified view i'm sure but surely it's better than just 'giving' the banks money and expecting them to go back to the good old days of 'how much?, oh don't worry about your credit rating, there ya go, sign there'

The fact that the credit industry self regulates is also a joke anyway.
Even if the government had achieved it's goal, and the banks leant again, those poor buggers who missed payments or couldn't pay due to redundency are screwed by defaults anyway.
but I'm going off topic here... as far as petrol goes, of course it will, and I bet at some point the petroleum companies will start to bleat about needing a bail out too

If the fat waste of a good skin wants to pay my mortgage off, i'll go and start spending too
