THe news tonight reports "The banks will be fine. They just need more money!" (like $75 Bil) Now how many Americans can make that same statement but no one is giving them any money! Not only have they been given money but they are still quite tight fisted I hear!
My point exactly AJC....how many unemployed are there now? The unemployment figures is far from accurate as so many have used up their unemployment benefits. 54 HUD families in Portland are now being evicted....not because they have been able to find jobs but because there is no money to keep them in a home. and the waiting list is 2 years in Portland....I know it is much longer in other places.
The fact is that banks make money lending money. They have learned their lesson to lend to people who can repay thier loans. They lose money when those who borrow money do not pay it back.
I recall in the 70s we lauged about people trying to get loans. All you needed to do was prove you did not need the money and you qualified.
Now we are told about Freddie Mac and Fanie Mae and the government forcing banks to make loans to unqualified brrowers. And when ther government takes over the common stock and makes the decisions as to who gets the loans, you will see the wisdom--lack thereof--of Obama.
