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toxic loans

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On “Bad” Banks (and worse policy)

Have you heard the latest “plan” to come out of the vapor filling that space in the cranial cavity of the liberal, a space that is normally reserved for a brain?

“Bad” banks.

Essentially, a bad bank is formed by the government and run by the government to buy up all the “toxic” loans that exist out there.

It is based on a model run by the Swedes several years back when they faced a crisis.

You and I both know what this facade really means:  our tax dollars will fund this “shill” corporation to liquidate these bad loans.

What we are essentially doing is giving a free pass to the legislators and regulators who were supposed to “mind the till” and now turning these toxic debts over to the very same people under whose watchfull eye the debts were incurred in the first place.

There ya go.  Turn over the debt to a bunch of people who have no aversion to “kiting” their pay checks.

This is all very troubling.

It makes me feel like setting up a dummy corporation and then paying dummy taxes.

This should make the dummies up on Capitol Hill just ecstatic.

They can have all the play money known to man.  Put them in a sandbox and hope that their attention is never drawn to an outside world where we try and deal with what is real.

Real money.  Real debt.  REAL responsibility.

To hell with this concept of bad banks.

You know what I would really like to hear?  I’d like to hear what some respected and conservative bankers have to say about this whole mess.  What is their take on how to come out the other side of this mess?

Presumably, they are experts in their fields (and I bet they could make more sense than the President’s press secretary.  What was that gibberish he was spewing yesterday?).

Personally, I think it is time that the guys who created this mess “buck up” (to use a phrase near and dear to the President’s heart).

It is time we see some people in the hot seat who helped create this mess.  You want us to foot the bill for your screw-ups – then step up to the microphone and tell us what you did and why you did it.

Who are the people behind these “toxic” loans?  Who are the regulators who were supposed to catch it; and further, what about these organizations (like ACORN) who were coaching individuals on how to secure a toxic loan?

You know, it is interesting that the left can throw so much money and so much effort into cleaning up an industrial toxic spill, yet when they are personally and patently involved in a toxic financial spill they will immediately place the entirety of the burden on the taxpayer.

We are left swimming in the sludge.

Kinda makes you feel a bit of empathy for the endangered species.

I am beginning to believe that we honest, hard-working and tax-paying citizens are now at the top of endangered species list.

Let’s hope someone with a plan (say some Conservatives) will offer us a sponge to soak up some of this toxic debt.

A nice, thick and absorbent tax break would go a long way to soaking up some of this sludge from my back.

How ’bout you, fellow tax payers?

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