OK so I am listening to NPR my favorite liberal hangout. I cannot believe what I heard this morning. The "new" thing that the "new" administration is floating around is to form a national "Bad" bank. This bank would be run by the government. It would buy up bad debt in commercial banks....thus allowing them to relive themselves...literally...of their waste (bad loans) and then this would allow them to lend money and ease the credit issue. Do they think we are stupid? Do they think we cannot remember back to before we spent (on credit) money on the latest trendy thing that this is what TARP was suppose to do in the first place. Please re-read the following entries of my blog:
entry 1
Entry 2
I can't seem to find my first blog on this mess...but come on...this is crazy.
As I warned.....they took 1/2 of the 700 billion and spent it on stocks...not bad loans. They lied to us and within days of getting their hands on the cash, they changed direction and threw good money after bad.
The "bad" bank idea had already been thrown at us. It was the only way these knuckleheads got us to believe that it wasn't a bail out, but a "loan". That in fact the US govt would get their money back and then some.
Welcome President-Elect Obama....welcome to a mess.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment