First, we pass laws forcing the banks to make loans to unqualified applicants.
Then, when banks get into trouble we force even those that don't want the help to take government subsidies.
And then, even those banks that didn't want to take the money are forced to take orders from the idiots that forced them to make the high-risk loans against their policies!
Have I got the scenario about right?
As Yakov Smirnoff would say,
"What a country!"
(And with his history, he would know better than most, wouldn't he?)
Unbelievable.
2 comments:
You forgot:
"Pass a law to force banks to refinance your bad loan rather than foreclosing and thereby forcing them to reenter a bad loan agreement" and "Pass a law that makes it easier to get out of bankruptcy by discounting debts"
Other than that... you've pretty much nailed it.
Personally, I think we could avoid a lot of legalese and work if we just passed a law that says, "Henceforth: personal responsibility is no longer a requirement for living in this society." I mean, that's already the case, we might as well formalize it.
GB -
You and Jinksto have hit the nail on the head.
Nationalizing the banks is next.
Good grief.
cjh
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