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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Tenchusatsu who wrote (536481)	12/14/2009 4:02:13 PM
From: i-node	Read Replies (1) \| Respond to of 1578275

Obama was expressing dismay that Wall Street bankers were prioritizing their own salaries and the well-being of their companies over the general welfare of the credit market. Nothing wrong with that viewpoint, by the way. Ten, I think he's entitled to have that view, of course - but we really can't have government deciding who should and who shouldn't get loans. After all, that is what created the crisis in the first place -- Barney Frank and Chris Dodd telling banks they MUST lend to unqualified borrowers. It is a perfect example of what happens when government regulation supplants sound business judgment. What needs to happen in the current situation? It is tough. Really tough. Because what needs to happen is for the banks to be encouraged, through normal processes, to lend money -- not just to be "told" by the administration that's what they need to do. It is a dicey proposition because if the Fed starts tightening the risk of a hyperinflationary period increases. But no amount of Obama pleading is going to get them to lend money when it isn't the most sensible route from a financial perspective.