Monday, March 23, 2009

Public-Private Initiatives

I had a telephone conversation last week with a dear pal in another state who will remain anonymous. He is in the banking business – not a big, broke, international bank – a local, community bank that helps real people buy homes and cars, pay tuitions and start businesses; you know, the banking sector that serves the people and makes a little profit every year; the kind of business upon which America is founded; you know, the kind of business that our government is rendering obsolete. He was despairing because the small fleet of corner banks with which he is employed was pretty much forced into taking a small share of TARP cash from our government. Without going into detail I now understand that the interest on that ‘helpful’ government loan will demand and destroy 50% of the profits of this small banking concern in 2009. 
This is a simple snapshot of reality that is duplicated across all 50 states. We hear that President Obama is angry that states, local governments and companies are pushing away from the good will table. So be it. Let it all come down. Keep on pushing back – hard.
If you need an example of good people cutting a deal with our government I suggest you travel to an American Indian Reservation. 


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