Friday, March 19, 2010

 
 
 

 
 
 
 
 
A few smart banks reject gov't aid; point out how stupid gov't is
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Wednesday, March 11, 2009
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Our socialist government is telling banks to do socialist things - modify mortgages for struggling homeowners, stop evictions, cap executive pay, and even stop hiring foreigners. And banks that accepted government funds have little say in the matter...

So, the banks forced to accept TARP funds want to give it back ASAP. But the government doesn't have a "formal process" for accepting those funds... likely because our all-knowing, omnipotent government loves their newfound financial power, and is in no rush to end their reign.

Unfortunately, forcing weaker banks to carry out a socialist agenda - i.e. loose lending - could bankrupt them in the near future.

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Topics: Banks | Bailout | Boondoggle
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