As the link below indicates the Banks are simply going to take the Taxpayer's money and buy yachts for their families and friends with it.
They have no intention of lending it out anything but usurious rates.
http://finance.yahoo.com/...
It is time to give up on this Paulson / Benarnke Giveaway and do something that will really break the current fiscal log jam.
Nationalization is certainly one way but since it would paint Obama as a Socialist that is not going to happen.
There is a better way below the fold.
Right now its very difficult to tell the Banks from Organized Crime.
They are clearly in at least tacit cahoots not to lend any money and basically are holding a gun to our heads like the old water front protection racketeers of a bygone era.
We need swift bold action.
Simply call back all the TARP funds and all the Fed Loans and let these bastards head for Bankruptcy Court.
Under the circumstances we can't go the normal route of having sick banks folded into healthy banks because sick or healthy, all there are left is criminal banks so ordinary reorganization won't work.
The real solution is simple.
Take the recovered TARP money and the associated Fed Money and place it in a brand new Bank operated by the US Treasury ( at least for awhile ) and let this Bank lend the money that the other banks won't lend.
Its not Nationalization. It is simply the beloved "Free Market" wading in to sieze a business opportunity.
Don't mistake this for simply an angry outburst.
This is a deadly serious, totally viable and legal suggestion
Refusing to lend at reasonable rates is what the banks did in the 30's and if we let them do it again we really will reap the same result.
We can end this thing overnight by one simple action and it is time we did it.
This thing is over a year old now and it clearly is not getting any better.
Call it Change we can believe in.