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Politics : RAMTRONIAN's Cache Inn
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To: Tom Caruthers who wrote (14230)10/8/2008 2:04:54 AM
From: NightOwl  Read Replies (1) of 14464
 
But what they can do is insure properly underwritten commercial loans that meet specified criteria, thereby reducing the risks of default.

Mr. C... If the government can be in the "insurance" business [which they clearly no nothing about], there is certainly no reason they can't be in the banking business [with which they are well familiar].

What better way to "leverage" the existing credit system than to simply take what we're already paying for. They've got regional Fed banks all over the country already. They will soon be the owners of WaMu's "kissin' kin" with deposit branches and ATMs all over those same regions.

In the last 3 months the Fed's jacked up the money supply by a factor of about 4. And agreed to lend cash to these suckers for practically nothing! Now they're buying commercial paper.

They need to advise all these remaining so called "free market" bankers out there, sitting on all this new liquidity, of exactly which banks are "well capitalized" enough and that if they want to remain in the banking business they had better start lending or BIG Brother will cut off their credit and do it himself.

It is nothing short of ludicrous!!! To have these so called "professional" bankers who complain about over regulation and government welfare at the drop of a deposit slip... Now waltz in here and refuse to underwrite loans for businesses and governments with whom they've played golf and footsie for years... unless taxpayers give them a friggin' "guarantee" on top of everything else??!!

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