[giantsloth]

The 4.7 trillion dollars is in reference to "quantitive easing" (which is a euphemism for print money and give it to banks).

The problem was 100% bad debts. It is absolutely false to suggest that it wasn't. Banks were practicing predatory lending on the poor/working class, burdening them with debts that had 3 year low interest rates that would spike after the third year. This is a strategy admitted to by Greenspan.

We absolutely do know that debt forgiveness works, and that it was absolutely NOT the right decision to give the money to the bankers. The German Miracle being the prime 20th century example. But you can also look at the Jubilee year and debt forgiveness between monarchy changes through antiquity.

You are making the mistake of taking the propaganda sold to you by corporate news media as fact, when it is in fact a constructed reality by the banks and their political puppets.