Posted by: arnegrim | February 25, 2009

Political bandaid

With all this ‘wonderful’ influx of money into the American economy, one would expect that a majority of what caused the crisis in the first place would be fixed beforehand. So as to prevent a repeat performance. As yet I have heard nothing of any plans to remove or rescind the law that forces lenders to provide loans to people who are high-risk all in the name of ‘equality’.

Without fixing this law and allowing lenders to utilize reasonable practices to ensure the liquidity of their assets, all we see now in the bailout of the banking industry is a bandaid… a very, very expensive one that will get wet and fall off in the future while the wound beneath won’t heal.


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