Tuesday, March 16, 2010


"Lend more" demands President Barack Obama.  "Stop making risky loans" demands President Barack Obama's regulators.  Reminds me of Dr. Suess  "If I start out with the concept of a two-headed animal," he once said, "I must put two hats on his head and two toothbrushes in the bathroom. It's logical insanity."

Throw in dirty-lameduck Senator Christopher Dodd's proposed job-killing armlock on anything deemed "financial".  This proposed bill, which with any hard manuvering by rational members of Congress won't get out of committeel, would slaughter those profits Democrats don't believe in, control compensation, set credit card and all pricing, force stockholder dilution through requiring additonal capital and allow, perhaps, encourage regulators to bust up big financial-oriented companies from payday loan providers to Home Depost that provides credit to customers.  State attorneys general (to most activist of which are anti-business Democrats) would get to scrutinize them too.  All in all this scheme would virtually nationalize the financial industry in the United States of America.  (Our President Obama gleefully sees this bill as putting Republicans between a rock of supporting the bill or a hard place of appearing to support banks.  Bill or banks -- you lose!  But it's nothing political with him.  And who cares about the Amercian Citizen anyway, (s)he doesn't get it anyway?)

Of course this is logical to those consumers who want to have easier, cheaper access to someone else's cash, with leniency or foregiveness if it's too strenuous to repay.  And, of course, logical to anti-business activists, socialists, communists and idiots who know capitalism is the work of the devil.

Of course this is insanity to anyone who sees what government-control does to anything.  Amtrak.  Internal Revenue Service.  United States Postal Servies.  Fannie Mae.  Freddie Mac.  Federal Housing Authority.  Automobile manufacturers.  Education.  Healthcare.  Congress.  Earmarks.  Deficits.  African Americans. 

No comments: