Tuesday, September 14, 2010
Small business aid bill set to clear the senate
Another hollow victory for Obama. The bill will give money to banks, with the intention that they make loans. Apparently no one in the Administration understands banking, because lending is not constrained by reserves. How do they expect banks to lend to businesses without customers and sales when no one has a job or where millions have seen their incomes reduced to nothing??? Can't anyone in the Administration figure this out???
This money will sit on banks' books, just like TARP and other, similar measures. Or worse, it will go to big bonuses again for bank executives. It's looting the taxpayer to give money to business executives in the financial sector. Scandalous!!! We should have a revolt against this shit once and for all!!!