Obama: Banks Need to Help Small Businesses, should return favor of taxpayer-financed bailout

[Amerigo Vespucci]

Run time: 02:09 https://www.youtube.com/watch?v=2keU1ABtjnc   Posted on YouTube: October 24, 2009 By YouTube Member: Views on YouTube: 0   Posted on DU: October 24, 2009 By DU Member: Amerigo Vespucci Views on DU: 916

 

Banks should return the favor they received in their recent taxpayer-financed bailout by lending more money to small businesses, President Barack Obama said Saturday. (Oct. 24)

Associated Press
October 24, 2009

[izquierdista]

1. Except banks don't believe in favors

Here is where Barack is out of his element compared to JFK and FDR. They knew from long standing experience that rich bankers were sons-of-bitches and had to be FORCED to comport with the rest of society. With Obama/Geithner in charge, nobody is forcing them to do anything -- and it shows.

[truedelphi]

2. Obama's agreement with the Powers that Be is to continually

Pretend that he is doing all a President can do - wheedle and plead and act concerned.

The one thing that keeps me going is the thought of someone like Grayson showing up.

[SleeplessinSoCal]

6. I thnk Obama knows. I think he is also trying to lead by example.

[Amerigo Vespucci]

7. He either needs to cross that bridge, or not...

...I respect him for throwing it out there, because it needed to be said.

I have credit cards with Wells Fargo AND BofA...BOTH TARP recipients.

BOTH raised my interest rates on my credit cards. Not because I was late on my payments...just because they WANTED to.

So I believe that President Obama knows the true nature of banks, and is giving them an opportunity to step up and do the right thing...

...which we all KNOW they will NOT do...

...then, I will be looking forward to our President's NEXT message.

:patriot:

[Amonester]

3. Consumers have no credit left.

Small businesses need credit to make products and/or services available to consumers at prices they can pay.

The problem is (or a big part of the problem is), consumers overall, don't have enough money (or credit) to pay for them.

You can make enough credit available to banks and small businesses all you want, but at the end of the chain, if nobody can afford buying the stuff, why bother?

[kenny blankenship]

4. Who's going to make them?

[heliarc]

5. I was just denied a small business loan...

it would have helped me scale up my work, and now I'm cut out of some earnings I could have made in 2010... This after Chase bought all sorts of new fancy signs for all their acquisitions of WAMU in California.

The reasons they gave were all bogus.

I still don't know why Obama didn't just buy out people's loans. It would have been just as good a use of the money. The banks would have been solvent, and people would still have their homes. It would have put the onus on the banks to invest more wisely the next time. Instead the bailout was an utter and total loss, and the foreclosures keep on coming.

Stupid.

[timefortherevolution]

8. Please Barack...no more speeches...

I was expecting to get hit for this but I think that everyone else is feeling what I'm feeling.

He's all hat. Bankers are like great whites. They smell blood (money) and they're killing machines.
Obama talks to them like he's their cub scout leader. Listening to his speeches
is beginning to become as painful at it was listening to Bush. Its almost worse because
you know Obama understands what exactly is happening, and he's not taking appropriate action.

[ProgressOnTheMove]

9. He's really doing a lot of good stuff, maybe not as fast and as pitch perfect as some may wish...

but clearly done more than we could of ever hoped from any other candidate, from Nadar through the whole list. He's just very methodical and realistic in reaching his goals.

[earcandle]

10. Thank yo, Mr. Prez. I could use some ad bucks.