This is deeply upsetting.
BoA was forced to take bailout money
Now they’re being pushed to make more bad loans.
I heard on Fox last night an interview with a local politician. He was pushing to keep the factory open because it made energy-efficient windows. He said that this function was necessary for the coming Obama administration plans.
We are rapidly becoming a communist economy.
Yeah I heard that too. You know what comes next, right?
You and I are going to be forced to buy these new windows and doors.
I have mixed emotions on this.
B of A was only “forced” to take the bailout money because, without the bailout money, they were on the verge of failure. They took the bailout money and have decided, with the rest of the banks, to just hoard it or spend it on advertising and operations. So, I have little or no sympathy for them.
ON THE OTHER HAND, I’m more appalled by the state thinking it can strong-arm its way into the B of A’s boardroom and dictate what business decisions they make. This kind of power will be abused everywhere if it gets the desired result. Will the state of Michigan go after the banks for not extending their bailout money in loans to the auto industry? There’s really no limit to what depths the gov’t can sink, given a little slack here.