Friday, January 29, 2010

Make the big banks pay back the TARP money

Rightardia is pleased that the federal government will tax the big banks that it gave TARP money to. The US went through a similar debacle with Savings and Laon (S&L) industry in the 1980s and the 1990s. The US government should be able to loan money in emergencies, but should also excpect to be paid back.

We also noted that while a record number of foreclosures that have been occurring, bankers are trying to change the law in Florida to that foreclosures do not have to go though a court review. This would allow the banks to boot someone from their home in ninety days usi8ng a non-judicial procedure.

Here is a list of innocents the bankers aim to help: neighbors annoyed by abandoned houses next door; condo associations pursuing dues from properties in legal limbo; cities grappling with urban blight; and judges overloaded with thousands of foreclosure cases. Who are these Republicans kidding?

"We don't want the property. We're not into the property management business," said a banking represetnative. "We want to get a property out of the courts and sold to a productive Florida family.''

The conservative definiton of a productive Florida family is one that is affluent.

We wonder if Republican Governor Charlie Crist will have the balls to veto this regressive banking legislation.


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