Tag Archives: banks

Stop Using Government as an ATM

BY FRANK HILL
Reprinted from TelemachusLeaps.com

One of Ronald Reagan’ most famous speeches had to do with the tearing down of the Berlin Wall that separated Free Western Germans from Trapped Communist Eastern Germans under the control of the Soviet Union post World War II.

‘Mr. Gorbachev: Tear Down This Wall!’ President Reagan declared on June 12, 1987 outside of the Brandenburg Gate. 29 months later, it fell by the weight of its terrible history to the side of freedom and injustice.

Who says ‘words can’t make a difference’? Continue reading →

Bank Regulations Killing Banks

BY RICH GALEN
Reprinted from Mullings.com

A Wall Street Journal story by Robin Sidel looks at a troubling trend in the banking industry. No, not the JPMorgans of the industry losing $2 billion on bad bets, but on small community banks who don’t have the word “billion” anywhere on their balance sheets.

According to her piece: “A growing number of tiny community banks are deciding it’s time to put out the ‘for sale’ sign … many executives of these small lenders are frustrated by costly, new regulations.”

Let’s head into the Way Back Machine: In October, 1975 New York City was on the verge of bankruptcy. Sort of like California in the summer of 2012.

New York’s Democratic Mayor and Governor (Abe Beame and Hugh Carey) came to Washington, DC begging for Federal help. President Gerald Ford said he would veto any bill which would have the effect of taxpayers in, say, Michigan, bailing out New Yorkers whose profligate ways had led them in that fiscal blind alley.

The New York Daily News published a famous front page with a photo of Ford and the blaring headline: Ford to City: Drop Dead. Continue reading →