A GOVERNMENT BANK

02/09/2009

A GOVERNMENT BANK


The time has come for the government to start its own bank. Not the Treasury or the federal reserve, but a regular bank owned and operated by the government. Put away the bail out, the stimulus, and take the money as a reserve to start the bank, writing loans, mortgages, even issuing credit cards with regular strict lending standards, just cut out the bull crap of the SBA that takes six months and more to issues a small business loan. Since we have seen that the banks taking money from the federal government are only keeping it or paying bonuses to their executives while the average American suffers, and the small business can not get any money, the best option now would be for the government to get in to banking and hire bureaucrats on the cheap as opposed to high dollar bankers.


The current banking system has failed and it has failed the country, we surely don't need to hand the same more money, I wrote about this before that the government is throwing good money after bad, that the TARP was a farce and a failure, I have been proven right. The government should not be in the business of creating jobs, it should concern itself with collecting taxes on incomes. The jobs will again be created as the small businesses and individuals can borrow money and start new ventures, thus the jobs will be created like they should be.

Handing out money to states and counties and cities does not make much sense either as the money will be lost to corruption and diverted to the friends and families of the politicians. in contracts.