Wednesday, October 05, 2016

Business as usual

Banks get into trouble, Government gives them billions to encourage them to continue lending to people after the housing mortgage scandal of 2008...

but guess what?

The New York Times found that "few [banks] cited lending as a priority. Further, an overwhelming majority saw the program as a no-strings-attached windfall that could be used to pay down debt, acquire other businesses or invest for the future."
The article cited several bank chairmen as stating that they viewed the money as available for strategic acquisitions in the future rather than to increase lending to the private sector, whose ability to pay back the loans was suspect. PlainsCapital chairman Alan B. White saw the Bush administration's cash infusion as "opportunity capital," noting, "They didn't tell me I had to do anything particular with it."

And now Guccifer2.0 points out which politicians get "donations" from those same banks.

Politico blames the Russians for being behind the hack.

yes, blame the messenger, don't analyze the quid pro quo.

so you see, crooked politicians getting gifts thanking them for their vote is not limited to the Philippines.

And CNN analyzes Hillary's claim of the wonderfulness of President Obama's economic miracle.

Her claims about the carmakers being saved by President Obama was actually because TARP funding was used to save the carmakers, in 2008, under Bush's watch....

Presumably Trump's 20 year old tax return will get more publicity, even though his deductions were legal.

One could argue that big business lobbiests paid gifts to politicians to get these loopholes put into the tax codes, of course, but Clinton was president in 1995, so isn't he to blame for these loopholes?

As my husband Lolo used to say: They're all crooks...

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