Comment by Powell Gammill

Entered on: 5/28/2009 11:44:23 AM

Thank you Jack! This is precisely what I have said to some people only to be poo-pooed. That the banks were doing nothing more than what was demanded of them by the federal government---make home loans to people who were not qualified and let us know how much you approved every month so we can evaluate how you are doing and how much money you created out of thin air.

This placated upset constituents who wanted a free lunch and whose taxpayer teat had run dry. It made banks look prosperous, and eventually made the nation look booming. Then the bubbles started to burst and now the house of cards has fallen. And it can't get up.