This Isn't Going To End Well

We know what happens when the government pressures banks to lend to people they wouldn’t otherwise lend to, right?

So, what does Obama wanna do when banks won’t lend to people they don’t want to?  He pressures ’em.

President Obama is prepared to take “every appropriate step” to pressure banks to lend more money to small businesses, he said Saturday, the latest in a week of salvos his administration has directed toward financial institutions.

Obama said banks should return the favor for a $700 billion taxpayer-financed financial bailout package by lending more money to small businesses, without specifying what steps he would be willing to take to mount pressure on the banks.

Too many small business owners remain unable to get credit, Obama said in his weekly radio address, despite his administration’s efforts to jump-start lending, which was virtually frozen when the financial crisis took hold last year.

“These are the very taxpayers who stood by America’s banks in a crisis, and now it’s time for our banks to stand by creditworthy small businesses and make the loans they need to open their doors, grow their operations and create new jobs,” Obama said.

“It’s time for those banks to fulfill their responsibility to help ensure a wider recovery, a more secure system and more broadly shared prosperity,” said Obama.

Because 9.8% unemployment just isn’t high enough.  You know what happens when you start a Rookie?  He gets beat.

Leave a Reply

Your email address will not be published. Required fields are marked *