Well, here I find myself again, contemplating two positions on an issue, and feeling an overwhelming need to speak out about it. My dilemma is this, which is the lesser of two evils, allowing giant banks to go out of business for making bad business decisions, or going overseas with a coffee can, a cane and dark glasses and begging for money to stay in business. Hmmm, how should I feel about this recent event? Considering the United States has been selling out to foreign interests for years I don’t understand why this latest development is that big of a deal. I suppose it’s just more evidence that we are diving head first into a recession. Fortunately for us, by the time the analyst with their abacus decide this country is in a recession we should be coming out of it.

A part of me would like to see the banks shut their doors and go away, so they can feel some of what the millions of home and business owners have felt in the last twelve months or so, but that’s another story. What does allowing the banks fold accomplish, nothing really, a few CEO’s get nice big golden parachutes, thankfully that money has already been set aside, and several thousand more good Americans lose their jobs. All the while the United States gets that much closer to a recession. Recession, that’s a scary thought.

On the other side there are several very concerned countries and even a Saudi prince who have graciously offered to give these banks money so they can stay in business. I wonder what the interest rate the consumers, I mean the banks have to pay on these loans are going to be? While getting these loans doesn’t seem like the best idea I suppose it is the only choice available, right? Can’t we be a little more careful who we borrow from though? I’m not sure borrowing money from China is such a great idea, they do enough for us now and we shouldn’t impose on them. They have already taken on the burden of manufacturing many of our products, and they have done it at a discount rate with no quality assurance. Then there’s a Saudi prince, don’t the Saudi’s owe us money?
How about this for a solution, have the fed’s bail out the banking industry like they do everything else. Problem, the fed doesn’t have any money either. They can just go borrow it from overseas and give it to the banking industry. Better yet just fire up the presses and start printing money, it doesn’t matter how much money is out there any how since it is not based on the gold standard any longer. Now that’s a plan. Besides printing and spending money has been going on for years and there doesn’t appear to be a down side, right? Uh, oh, I think I see a recession coming.

Instead of going through all of this wouldn’t it have been much simpler to work with the millions of people who in many cases through no fault of their own are unable to pay for their house, car, or credit cards. The only problem with this plan is there is no profit in helping people.

Good luck cleaning up your mess big banking, welcome to the plight of the middle class American, or at least what is left of us, the only difference between you and them is you found someone who is willing to help you get out of your financial mess, at least for now. By the way Peter and Paul say hi