The easy money is gone. The solution that the Obama proposes? Subsidize hedge funds with taxpayer dollars.
hat tip (American Thinker)
UPDATE: Feb. 20 (Bloomberg) — Senate Banking Committee Chairman Christopher Dodd said banks may have to be nationalized for “a short time” to help lenders such as Citigroup Inc. and Bank of America Corp. survive the worst economic slump in 75 years. But hold on, Bank of America says: “we don’t need anymore government money“.
I have to ask: “What is going on here? Why are they wanting to nationalize banks against their will and who shipped all the common sense out of Washington?”
UPDATE 2 : Did I forget to mention that the Obama administration wants to use those hedge funds to prop up the defunct housing mess/bad assets they forced on the banks? Defunct loans/assets that ACORN coerced innocent borrowers to take when they knew full well they couldn’t afford the loans. All while they were intimidating lenders with thuggery scare tactics that Obama taught them to use when he was a community organizer.
And now they think they can squirm their way out of this mess with more of the same at taxpayer expense?
“Chicago Tea Party” here we come!!!
UPDATE 3: ACORN( who is receiving 4 billion in stimulus) is seeking to destroy property rights as any good little marxist organization would. Once property rights are history, no one will be safe and people will scurry to the protection that Big Brother offers in order to save what little they have. Property rights guarantee our independence. And that just won’t do for ACORN and their allies.
Proverbs 29:4 ~ By justice a king gives a country stability, but one who is greedy for bribes tears it down.