“It is useless to attempt to reason a man out of a thing he was never reasoned into”

Jonathan Swift
"The Democrats have moved to the right, and the right has moved into a mental hospital." - Bill Maher
"The city is crowded my friends are away and I'm on my own
It's too hot to handle so I gotta get up and go

It's a cruel ... cruel summer"

Monday, April 20, 2009

Give Me Your Cash, Taxpayer . . . Now, FOff!

Seriously . . . this is a big damn problem . . . From the Murdoch Street Journal

"Lending at the biggest U.S. banks has fallen more sharply than realized, despite government efforts to pump billions of dollars into the financial sector.

According to a Wall Street Journal analysis of Treasury Department data, the biggest recipients of taxpayer aid made or refinanced 23% less in new loans in February, the latest available data, than in October, the month the Treasury kicked off the Troubled Asset Relief Program.

The total dollar amount of new loans declined in three of the four months the government has reported this data."

As I mentioned in comments, I have been trying to buy a firm for sale down the road for 2 months. There are a bunch of local banks (including one who received around $300 million in TARP) I have talked to and they will not loan zip . . .

My credit rating? 822.

12 + years in the industry.

A banker buddy of mine, Jeff, who works ONLY with small biz's, told me last week that his bank would not even allow his client with a profitable McDonalds to get a loan to open another one. You know, create jobs, expand the economy . . . Jeff is even looking for part time work because he estimates his yearly income will be cut IN HALF. WTF?

Bush's TARP, and it WAS Bush's TARP was his last, final, ginormous, F*** up. (And lets not forget that Shrub had an MBA peeps! Our first MBA Pres!)

Obama needs to pull a Rick Waggoner and start cleaning house with the banksters. Start at the top, seize their stock options, and get 'em a job as assistant crew chief at Taco Villa.

Tacccoooo Villlllaaaaa . . . I love that place. Pass the guadalajara!

-Prodigal Son