If there is no struggle, there is no progress.

- Frederick Douglas

Socialism Will Be Forced!

Community banking executives around the country responded with anger yesterday to the Bush administration's strategy of investing $250 billion in financial firms, saying they don't need the money, resent the intrusion and feel it's unfair to rescue companies from their own mistakes.

But regulators said some banks will be pressed to take the taxpayer dollars anyway.
[Read]

Those who do not wish to comply with the abolition of the free-market will be punished; all banks are now de facto subsidiaries and branches of the Federal Government. Be calm, the government has everything under control...

posted at 13:04:15 on 10/15/08 by clearpolitics - Category: Economics - [Permalink]

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Dave wrote:

If you haven't noticed, we're on the brink of another Great Depression, and the banks brought us to this point. And now that we're here, they are refusing to extend credit to worthy borrowers, which is only exacerbating our economic woes. Banks should consider themselves fortunate that the government hasn't fully nationalized them. Banking executives have proven they are either inept or corrupt and that they cannot be trusted to act appropriately in this crisis. Yes, that means trusting the government's intervention. But, at this point, the banks have proven they're not up to the task. At least the government is being proactive.
10/17/08 11:55:09

clearpolitics wrote:

We are no where near a "great" depression, but if the government keeps trying to stop the necessary correct of the over-leveraged markets, they will ensure we will get there.

Do you not hear the absurdity in your argument? Have the government give the money to the institutions that were irresponsible in their risk management to get us out of the over-leverage problem? There are many banks that are not receiving government help and do not need it because they were responsible, but, as government always does, let us get together and prop up the irresponsible.

The government is being proactive? Anyone with the least bit of interest and economics has seen this coming for years, yet when the government acts after the problem slaps us in the face you call them proactive?
10/17/08 12:07:44

S Adams wrote:

I do not want the government to take over my banking account, nor do I want their nose in my health care coverage. Enough is enough. (I wouldn't even let Pelosi, Reid, Dodd, Franks or Obama baby sit my kids, for that matter)
They have proven how inept they are that they let Fannie Mae get out of control. It wasn't until they got caught with their hand in the Fannie Mae cookie jar that they decided they had to fix the problem they caused.
I can take care of my own finances if the government will just leave me alone.
We have had the biggest spending bill passed in the history of the U.S. and Nancy Pelosi is licking her chops waiting for Obama to get in to increase out National debt even more with her extended Welfare bill.
Get ready to start taking it up the......
A vote for Obama is a vote for the failed Democratic congress.
10/19/08 20:23:10

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