Friday, February 20, 2009

Wow - I'm a sucker.

If the politicians have enough power to force banks to lend to dead beats - how do they now not have enough power to get the banks to lend to worthy borrowers?

I seriously don't get it. I personally don't think the banks should be forced to lend to anyone BTW. The free market should work it out. If the free market had been allowed to work this out, the banks would have started adjusting their business practice more than a year ago. Perhaps two years ago.

You know.. I've been hearing this phrase more and more "I'm not a conspiracy theorist but....".

I've even got my own. I'm not a conspiracy theorist but - why don't they just change the uptick rule."? That would have saved many banks from a stock collapse, which then turned into a run on the banks. For those of you who don't get it - selling stock is how companies raise capitol for their businesses.

I've been completely amazed at how the banks have so successfully deflected all the blame onto the American public. Sure, there are dead beats. But there are also normal hardworking people who aren't - and now can't renew their credit lines to continue business. These people make up most of the American economy. Love it or hate it - that is how an economy runs. How do you think things get from one country to the next? Or one state to the next? They just wait for a check in the mail? No. CREDIT!

You know - I didn't vote for Obama. But, I really didn't think it would be that bad. I laughed at the people who said he wanted to make us all poor, so we would be beholden to the government. That was too extreme for my imagination. Now, I'm not so sure.

All I hear is rage about the fat cats. How about most of the country who's put hard working money into 401ks to save for retirement? For every bank CEO there are 50 who have just been saving for retirement. So we aren't beholden to the government. For that day when social security doesn't exist. Like this guy. Those fat cats? These are the people who aren't spending money now because they see their retirements going down the drain.

For the record - the repubs have their own ass whooping to content with. They did nothing the whole election year. Which could have prevented some of this ridiculousness.

All I know as each day passes - those voices who say "the US is going to be like Detroit" get stronger in my head. I want so badly for them to be wrong. But, honestly...I've lost all confidence they aren't right.

3 comments:

Keyser Söze said...

Maybe you shouldn't read the Lair - just confirms you in your worst fears!

she said: said...

Yeah - you are a bit of an instigator.

Trouble is, I've seen and lived so many crazy things I've become hypnotized by disaster. Unable to look away, yet unbelieving that it's real.

Keyser Söze said...

Well, your reaction here has inspired the punch line in the latest post. But don't read it if you're feeling in an ominous mood...