By Douglas V. Gibbs
Obama's economic agenda is not working, so he has continued to blame all others for the failures.
Obama is calling the bankers "fat cats" who caused the economic downturn, while accusing them of hurting the job market by not lending enough.
Huh? Which is it? Should they be lending, or not?
Federal policy is driving the banks to lend to the government through treasury bills, which is the safer bet. Why lend to small businesses and people when those are the risky loans, and for doing that in the past they are being demonized and punished by the federal government?
If we want the banks to succeed, shouldn't we be creating an environment not hostile to the banks for doing business? With the predatory lending laws, why would they be willing to take the risk?
Obama, and the Democrats, are too afraid to let businesses fail if they go over the cliff, so they penalize the banks for failing, and then pump more bail out money into them to let them do the same thing over again. With the bail outs and the punitive treatment of the banking system, Obama is disincentivizing them and creating uncertainty in the system, ultimately creating an environment where the banks won't make loans, and the investors and business owners won't take the risks necessary for expansion - in other words, the Democratic Party's policies are stagnating any hopes for economic growth.
And when the leftists notice the stagnation, what do they do? They want to spend more money on another stimulus bill.
As if their out of control spending worked so well the first time.
To continue this tendency to pump fiat money into the financial system, the result will be hyper-inflation, not economic growth.
-- Political Pistachio Conservative News and Commentary
Obama Slams 'Fat Cat' Bankers - Wall Street Journal
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