With all the talk about the stimulus packages, we haven't achieved that much. I believe that President Obama really does want to be successful, but he is caught in the same system that doesn't work. He will appoint progressive Wall Streeters to help solve the problem. The problem is that these people, good intentions or not, are still more concerned with Wall St. than they are main street. I am specifically talking about the banking system.
Sure, our lending institutions are a disaster.
The government is basically taking over the banking system.
They are going to spend billions. hundreds of billions, to repair the damage.
Sure that is a lot of money but I have no problem with it so far.
This is where my major issue comes in.
After repairing the damage they are going to sell these banks back to the same people who destroyed them in the first place.
These greedy fools can't hardly wait for this to happen. They will again be able to give themselves exorbitant salaries and reward each other with huge bonuses for for committing failure.This is just plain wrong.Someone told me once that if the hammer you are using isn't getting the job done,GET A BIGGER HAMMER.This is where President Obama should pretend he is John Henry and get the biggest sledgehammer he can find.
Smash the banks into the smallest pieces you can find. Make every bank an entity unto itself.
Local people doing business with local banks owned by local people.
Now that is real capitalism.
And prevent them from buying each other out or merging.