Damn Banks or…..Why Is it Taking So Long To Recover?

How do banks make money? They make loans.

What if they don’t make loans? They sit on the money they have.

What if they don’t have money to sit on? They threaten to fail and the Federal Government gives them money to sit on OR they “arrange” a managed failure with the help of the Federal Government, in the course of which they are taken over by another big bank that curries favor with said Federal Government.

The Federal Government, via the media, has made it clear that the recovery is not happening because consumers are not spending. Consumers? That’s the problem? How about the thousands of small businesses that continue to go out of business and cast thousands of “consumers into the unemployment lines because BANKS WON”T MAKE LOANS?

A $600 rebate is going to help me help the economy? Are you kidding? How about putting that $10+Billion sitting at B of A to work? Do you have any idea how much a billion dollars is? I’ve been told that one billion dollars, laid end to end, would stretch around the circumference of planet Earth 8.5 times. Think of the mileage we could get out of one billion dollars if it were put to work in the form of loans to the businesses that need them for payroll, inventory, expansion, etc.

I currently have several accounts at Bank of Arrogance, one of the kings of the BBB’s ["Banks sitting on Bailout Billions"]. I am considering moving my accounts to a credit union. I doubt B of A will miss me, but it is my small way of saying that I am appalled at the arrogance of these institutions. We have trusted our legislators to help the banks so that the banks will help us. New flash: IT”S NOT HAPPENING!

So the problem is us silly consumers. Chrysler is failing, so I should go out and buy one? I might consider it if my tax dollars hadn’t already been contributed to saving this failing company. Spend more money? Why should we spend to help the economy while the BBB’s sit on billions of tax dollars? I think there is failure on the part of The Feds to understand that we aren’t as stupid as they would like to believe. So let me be clear: WE’LL START SPENDING WHEN THE BANKS START LENDING.

I ask that you consider moving your accounts to a credit union, or to a BSCA ["Banks 2 Small 2 Care About", i.e., they don't make mega political contributions to The Feds]. You will find the service friendlier and the fees lower. All you will miss is that you won’t find a branch on every corner. The Boeing Employee Credit Union office is located right inside Safeway at the Bear Creek Shopping Center. It’s a lot easier to access than risking your life getting to the B of A on Redmond Way.

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