Monday, February 02, 2009

...Because That's Smart

I mean, everyone knows that making banks give out loans beyond what they would normally do is smart. That's never helped lead to a recession, not in the last ten years or anything. I'm glad this President has learned from the mistakes of the past ten years to come up with a new idea that won't lead to any of the same problems at a much deeper level at all, and has a guy who had nothing to do with those problems announce the plan, too:
President Barack Obama will require banks to boost lending to consumers and companies in return for taxpayer aid from the $700 billion bailout fund, in a departure from Bush administration policy, a key lawmaker said.

“You’re going to see the Obama administration,” learning lessons from the first phase of the program, “push for much more lending,” House Financial Services Committee Chairman Barney Frank, who helped write the financial-rescue law, said yesterday on ABC television’s This Week program. “There are going to be some real rules in there.”
All seriousness - any media member worthy of the title journalist should be all over this asking questions. Anyone who shrugs it off should be fired on the spot. This is idiocy at its best.

Also interesting: Change* we can believe in.