Posted by: stiltsville | October 20, 2009

It’s About Time!

It’s About Time
Obama is presumed to announce incentives designed to increase lending tomorrow. After force feeding $350 billion to Wall Street, with very little to show for it, DC has decided that Main Street could use a jolt. So they are aiming $5 billion to smaller banks.
It’s about time. Big business can pretty much take care of itself. Just take a look at your cell phone bill if you don’t believe me. They are probably charging you $1.50 just to send you a bill. Or go fill up your gas tank. Or try to get a mortgage…
It’s about time DC turns its efforts to people. Plain hard-working, honest Joes like you and me. People that play by the rules and just want their kids to grow up happier, healthier and smarter than we are.
I know a guy whose bank is selling his loan for 30 cents on the dollar, but will not take 35 cents on the dollar from him to pay it off! Another acquaintance has been looking for a commercial mortgage for 6 months and can not find a bank willing to lend $500,000 so he can buy a building and expand his business.
Wall Street is in the business of shuffling money around. Main Street puts money to work. This country’s biggest businesses have for years lobbied furiously for deregulation. They have advocated smaller government. They have preached a “hands off” approach to business. Well let them eat cake.

President Obama is presumed to announce incentives designed to increase lending tomorrow. After force feeding $350 billion to Wall Street, with very little to show for it, DC has decided that Main Street could use a jolt. So they are aiming $5 billion to smaller banks.

It’s about time. Big business can pretty much take care of itself. Just take a look at your cell phone bill if you don’t believe me. They are probably charging you $1.50 just to send you a bill. Or go fill up your gas tank. Or try to get a mortgage…

It’s about time DC turns its efforts to people. Plain hard-working, honest Joes like you and me. People that play by the rules and just want their kids to grow up happier, healthier and smarter than we are.

I know a guy whose bank is selling his loan for 30 cents on the dollar, but will not take 35 cents on the dollar from him to pay it off! Another acquaintance has been looking for a commercial mortgage for 6 months and can not find a bank willing to lend $500,000 so he can buy a building and expand his business.

Wall Street is in the business of slicing, dicing and shuffling money around. Main Street puts money to work. This country’s biggest businesses have for years lobbied furiously for deregulation. They have advocated smaller government. They have preached a “hands off” approach to business. Well let them eat cake.

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