Now, I am no financial expert, but these strangling "reforms" that our President wants to put on banks seem stupid to me.
I can certainly understand never allowing the banks again to take the massive risks they took that caused the collapse of the financial markets.
However, these are the very same banks that we are demanding that they loosen their standards to start lending again.
Business owners small and large need the banks to lend them money so they can build and expand. This business owners are actually the folks that do the hiring.
I question the intelligence of doing this now of all times.
We demand that the banks no longer take risks as they move forward, but we are also demanding that they actually take risks on new lending.
We also do silly stupid stuff like exempting government controlled Freddie and Fannie, cutting loose any and all regulations, and at the same time we squelched the free market for everyone else.
You guys do realize that during the holiday season, that Freddie and Fannie, have been given an unlimited credit card to take and spend as much TARP funds as they want, right?
Makes absolutely no sense to me.