Wednesday, October 15, 2008

I'm from the Treasury, and I'm here to help you...

(Via the Drudge Report)

...whether you want help or not.

Community banking executives around the country responded with anger yesterday to the Bush administration's strategy of investing $250 billion in financial firms, saying they don't need the money, resent the intrusion and feel it's unfair to rescue companies from their own mistakes.

But regulators said some banks will be pressed to take the taxpayer dollars anyway.

So we have banks in this country who actually didn't get on the real estate bubble-fueled get rich quick bandwagon, and the Federal Government is going to force their "help" on them. That's just great. Take what few banks we have that act they they have some business acumen and force them to sell some yet to be determined percentage of themselves to the Federal Government. That's just f'ing brilliant.

"But it's only for a 5 year period. If they pay the money back, the Fed is out of there."

Really? When's the last time you saw the Federal Government take over control of anything and voluntarily give it back? Hm-m-m?

I'm waiting...

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