Hmmm... so today, Obama unveiled a plan to help small businesses. At the heart of that plan??? Encouraging... no... FORCING banks to open up credit and lend to small businesses. TARP-recipient banks that don't reveal every 30 days how they're lending to small business face penalties. Read it any way you want it, but that's actually forcing banks to lend to small businesses.
Where did we see this before??? Oh... yeah... that's right... we saw it in the 1990s with the Clinton administration and a compliant Democrat-controlled Congress forced banks to open up mortgages to consumers. Indeed, a housing stimulus.
We all know how that ended...
Wash. Rinse. Repeat. Expect different results. Man... don't we ever learn???!!!
Tuesday, March 17, 2009
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