Monday, December 14, 2009

Bankers Need to "Give Back"

Over the weekend, our teleprompter-in-chief made a big deal about the financial community, and in particular, institutions that were part of the big-government liberal bailouts*, needing to "give back" to America.

His point was that since the government bailed them out to the tune of several billions of dollars, they needed to loosen up credit so that individuals and businesses that are not now able to borrow money, may borrow money and put that money back into the economy.

Sounds good, doesn't it?

This is, of course, a prelude to more government regulation. Obama will complain that the financial community isn't doing what he wants them to do, proving that the Big Bad Evil Corporations need more regulation. That regulation will require them to be more "fair" about lending and will require them to lend money to more minorities and disadvantaged people and businesses that employ or might employ a lot of people, but don't have the financial stability to get a loan right now.

Once those regulations pass, these financial institutions, instead of doing business that is in their best interest, will be required to change their policies and procedures to suit the government's interests. In a few short years, when those borrowers are unable to pay back the loans, these financial institutions will become insolvent and require government funds to . . . .

. . . hey wait a minute. Isn't that how we got here in the first place?


jadedfellow December 14, 2009 at 9:01 PM  

Bingo, dogs return to their own vomit.

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This blog is about my opinions and world view.  I am a conservative, evangelical Christian.  Generally speaking, if you post a comment, I'll allow you to express your view.  However, if you say something hateful, untruthful, or just generally something I don't like, I may remove it.

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