Friday, January 22, 2010

You can't grow jobs by limiting credit

Obama is a master at finding a bad guy that Americans love to hate. Who better than rich bankers? Obama is trying to demonize banks so his administration and Congress can limit their size, slap more regulatory fees on them, and limit free market transactions between customers and financial institutions. This sort of Bolivarian populism is the stuff we see from Hugo Chavez and it's end game is not a good one. Today, Obama is on his way to Ohio to talk about jobs. I wonder if he will talk about his bank regulations as well? Banks are the source of credit used by businesses to create jobs and fuel growth. But Obama's policy on banks needs to be questioned against the desire to create jobs. His policy on banks will actually reduce the flow of credit that banks are willing or able to lend. So when he gives his jobs speech in Ohio, I hopes he places an asterisk in the margin directing tax payers to compare his jobs policy with his banking policy.
As a side note, I hope that banks take notice of the recent Supreme Court Decision to strike down parts of McCain-Feinglod concerning campaign contributions. If you don't like what Obama is doing, remember, November 2010 is right around the corner and 2012 is not too far behind.


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  2. Tom Woods has some good explanations about the proposed legislation.

  3. Barry's out carping again. Anything this guy and government touches turns to crap. But, to truly understand how much of a hypocrite Barry is, you have to really examine the various roles and actions of none other than, Barney's Frank; ACORN (O-Corn; Fannie; Freddie; the Clit-ons; over the years, and how much the Banks have been forced--by policy--to increase risk by loaning money to unqualified people.

    By the way, where is the people's money, if the Banks have already paid back the Gov't--in full, and with interest?

    Answer: Barry the Magician is back at it.

    Of course, Barry would have you believing that "[I]t's not about me..." But, listen to the prose he offers.

    I may just re-name him, Barry the Chutzpa.