Never understood the bailout. Banks are just repositories of assets; if one fails, it gets carved up and eaten by others. Life goes on. Plus, failure cleanses the industry of corrupt executives.
“Never understood the bailout. Banks are just repositories of assets”
No. No, NO!
Banks create the “money” that politicians use to buy votes. All their other functions are dispensable, but that one is not.
Lurk, the banks were forced by the courts and politicians to make bad loans to people who had no means to pay them back.
Let me ask you. If the courts ordered you to make $100 loans to people, and you’d never get it back, would it hurt you financially?
Okay, and if you then went belly up and had to declare bankruptcy, would it then be okay if everyone referred to you as a corrupt individual?
Barney Frank and other politicians from both sides of the isle participated in this, and sat back and watched the whole thing cave in on itself. They didn’t life a finger.
Not only that, guess what they forced the banks to do after this all went down. Why they forced them to distribute tarp funds and sell the ball in motion again, for massive failed loans to people who still can’t pay them back.
This is all going to take place again.
And then folks who mean well will drop by to reference the people in the banking industry and on Wall Street as crooks.
The Crooks are located on Capital Hill and at the White House. They are also located at court houses all over this country. They sit in black robes there.
I am not convinced the banking industry or Wall Street were the major problems folks reference them as being.
It’s just too easy to pass up for some people, evil bankers and those unknown kings on Wall Street.
The Leftists have worked their magic.