[quote name='bmulligan']Amen. Unfortunately, the spectacle of American politics is to attractive to the semi-mature.
I know many small business owners and property owners in Michigan and not one, REPEAT - NOT ONE, has had difficulty obtaining credit to meet payroll, refinance, make expenditures or order materials. Yes, many businesses use revolving credit to transact business on a day -to-day basis (actually, it's a 30-60-90 day basis, but I digress) and are customers in good standing with their respective financial institutions, and could walk into a bank and get as much money as they needed before they sat down in a chair. I also know bankers who are more than happy to make loans for new cars and homes regardless if the "bailout" legislation passed. All the rhetoric about the credit market shrinking is baloney.
The doom and gloom warnings amount to a threat by the financial industry to go to war with the american taxpayer if their demands were not met with this bill. Now we know who really has the power and, Thrust, you are absolutely right, "it is not us."[/QUOTE]
THIS THIS THIS. My father is an executive for a major bank that's primarily in the New England area. He said that his bank did not deal in subprime loans at all, and he would know this because he's in the "Special Assets" division, generally meaning loans gone bad. There are many more banks like this (either with no subprime loans or little subprime loans) than the media and the financial industry wants you to believe. And there are always credit unions. This is exactly why the passage of this bill is total bullshit. I'm surprised my father's bank and others didn't lobby against the bill, because less banks with idiotic executives means more business for them.
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