Msg. 58243 of 65535 (This msg. is a reply to
58226 by
killthecat)
Jump:
KTC> Step in with a federal bank to stabilize our financials
For your sake, KTC,
I hope you was being sarcastic.
Socialist, government controlled banks, are one of
the more idiotic ideas I have heard. Socialist style
banks will be making lending decision based more upon
'political' reasons than practical ones.
Socialist banks will make tons of loans for stupid
things like solyndra or fiskar auto . . . Moneys
will be mis-allocated if not fraudently stolen.
Capitalists running banks will make hard nosed
decision as to whether or not to loan. If a business
proposal has no chance of success, the banks will not
loan.
One of the reasons for the 2007 / 2008 sub prime
meltdown was the fact that the jackazzes in the federal
government tried to 'socialize' house lending. By
directing fannie and Freddie to buy TONS of subprime
mortgages. (And, I think we can all agree with what
happened when those loans started defaulting.)
That's what Obama should have done in 2009 instead of sucking up to Wall Street and showering with our money. Step in with a federal bank to stabilize our financials while rounding up all the Wall Street scumbags - No need to worry about which ones. There were no innocents.
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