Saturday, June 20, 2009

Everytime a Bell Rings

The big talking point for the American Banking Association about Obama’s proposed regulation of the banks is that the reforms will streamline regulatory agencies and among other things do away the separate charters given to The Thrifts or Savings and Loans. The banking spokesman kept calling them "Thrifts" and invoking the name of George Bailey from Its a Wonderful Life, saying that he is spinning in his grave.

The spokesman pointedly didn’t mention that the Republican Banker was the bad guy in the movie. And did not call them S&Ls as in the S&L scandal of the Reagan years where Republicans were allowed to buy up thrifts and run them like banks without any regulation, ultimately costing a trillion dollars back when a trillion dollars was still a lot of money. After the scandal they changed their names to Savings Banks and were regulated by a redundant agency with the exact same rules as banks.

Eight million more people will lose their homes this year because of these Rat Bastards. Every time a bell rings another Republican gets his horns and pitchfork.