Posted on 12/13/2009 3:45:08 PM PST by reaganaut1
President Barack Obama's economic advisers are talking tough about the banks ahead of his meeting with heads of financial institutions.
Larry Summers and Christina Romer say Obama will press bankers Monday to ease lending to help Americans get back to work.
As Summers put it, bankers need to recognize that "they've got obligations to the country after all that's been done for them."
He says no major bank would be intact without the government's bailout of the financial sector, and now they need to do all they can to get credit flowing again.
(Excerpt) Read more at news.yahoo.com ...
Nothing like making the same mistakes over again, with the same people , like Barney Frank in charge. Insanity.
The list, ping
We don’t need more credit. We need more demand. That comes from earnings.
parsy, who can’t believe this stuff
“Someone should point out that pressure to make bad loans from “community organizers” like Obama is how we got in this mess to begin with”
Banks aren’t really making any loans right now, let alone bad ones.
In other words.....HOW TO DESTROY America in 3 easy steps!
“We don’t need more credit. We need more demand. That comes from earnings.”
There is plenty of demand in small business but there is no supply for them.
Boy, that's right out of Atlas Shrugged isn't it.
Another good is that most are discouraged about taking out a loan, that be the no confidence vote. Government Bloat is the pressure Americans will get
Why would banks ease credit? They’re much happier borrowing money from the Fed for virtually free in order to ship it over to foreign currencies and governemnts that make much better interest rates...
Exactly! At least they’ll get to blame Wall Street, Corporations, and lending institutions all over again, as we slide further into oblivion.
He is well aware that this course of action, combined with all the other schemes he's championing, is the fastest way to destroy America.
I hope nobody harbors any doubts about him being "naive" or "inexperienced", and is tempted to chalk these actions up to miscalculations or uncertainty.
He hates us, and is killing us.
This isn't involuntary manslaughter; it's premeditated murder.
What the community organizer doesn’t understand is that no ethical businessperson will go out and borrow money unless he can see a path to pay it back. Under a MARXIST, FASCIST ADMINISTRATION (yes, it can be BOTH), there is no way to calculate how or if you can pay the loan back.
Obama’s methodology is calculated to marginalize the ethical business people and incorporate the unethical MOOCHERS!
Isn’t that what got us in this mess to begin with......I know we all know it but I just had to say it.
This time maybe I will get a really nice home/car, take (charge) some trips and plush stuff.....instead of trying to live with in my means.
Exactly. Even those fortunate to still have a job are afraid of losing that job further down the DemocRat tax and spend road. Everyone, banks, corporations, employees and the unemployed are in a ‘hunker down, wait and see’ mode.
All we really need to do to get the economy back up and running is to get rid of the damned commie-@ss DemocRats.
Ease credit! Say what?
Bankers are afraid to go the bathroom. Interest rates are rock bottom. Where the Hell is the free board to make any meaningful adjustment?
Here we go again...............!
“He is well aware that this course of action, combined with all the other schemes he’s championing, is the fastest way to destroy America.”
I used to believe this. Lately though, I’ve come to the conclusion that he really just isn’t bright enough to know better, and he certainly isn’t smart enough to spearhead a deliberate plan like this.
Nobody will tell him he is an idiot, so he thinks he’s brilliant.
I respectfully disagree. Most businessmen I have known will borrow whether they can pay back or not. It’s part of their personality that they think they can always win. Ethics plays a small part in most businesses. sadly.
parsy, who has known a few
That’s what I was thinking; people aren’t spending enough or using their credit cards enough, so the big O can’t have that-the destruction and demolition of this country MUST continue....he’s even telling people the economy is fixed and there will be jobs in the spring..
(reminds me of The Flowers That Bloom In The Spring-tra-la!..Gilbert & Sullivan...but I digress..)
But he’s basically telling sheeple-people to go out and spend; you’ll have a job in the spring to pay for all of those bills...don’t worry’bout it.
How EVIL.
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