While the public announcements of the deal focused on the role of the European Central Bank and the International Monetary Fund, sources confirmed that the key to the whole deal was the committment of the U.S. Federal Reserve to pump an unlimited supply of U.S. Dollars into the bailout.
The claim that they're trying to save the banks is clearly bogus, considering that this amounts to a blood-sucking tax increase that dwarfs anthing the Republicans typically complain about, and it will destroy the economy and the banks. So, the real purpose is to destroy the economy, and Obama and his economic advisors know it. Only the LaRouche Plan will save the economy and the beneficial banks.