Tuesday, February 24, 2009
Anemic Banks
It is probably true what both the Bush and O'bama administrations have said about the hemorrhaging banks. They doubtless do need the money transfusions. Unless it is shown, however, whether it is a good thing to save them and whether this is a hopeful means of doing it, The Doser wonders if it is a strategy that is not worth our pursuing.
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2 comments:
Rush Limbaugh and his friends would like the Obama administration to fail. If you want our government to succeed listen to what Rush has to say and do the opposite. If he is opposed to the bailout then it is probably a good idea.
Tell me what sense this makes. A major bank that I have a credit card with received a huge chunk of the first stimulus package and is set to receive another hefty sum in the next one. So how do they share the love with their customers? They raised my credit limit (which is already outrageously more than I could ever hope to spend or owe), then they raised the interest rate. Yes, that's right, in order to stimulate the economy I now am privileged to be able to go even more into debt and am blessed to be paying even higher rates on that debt. The result? They just lost a (20+ year) customer. No wonder they need bailout money.
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