Yes. Washington is full of economic retards. These people don't have the slightest clue on how to run a business.
I just had new hardwood floors installed at my mom's house. He tells me that most of the mills have downsized and now it takes 2 weeks to get wood in. If things pick up there is no credit to expand the mills again, which will drive hardwood prices through the roof. As Obama would say, Re Dick i lis. --- On Fri, 1/15/10, Nicholas Geti <[email protected]> wrote: > From: Nicholas Geti <[email protected]> > Subject: Re: [OT] Tax the banks > To: "ProFox Email List" <[email protected]> > Date: Friday, January 15, 2010, 2:33 PM > Actually, the amount depends on the > current Fed rule. Historically, banks > are required to hold 20% of their deposits which means they > can lend out 5x > their assets. But in any case, the big banks are not > lending anything. They > are buying US Treasuries with their TARP money at 1 to 2% > income and then > repaying TARP at no interest charge. Pretty neat setup, > don't you think? > > ----- Original Message ----- > From: "Michael Madigan" <[email protected]> > To: "ProFox Email List" <[email protected]> > Sent: Friday, January 15, 2010 2:25 PM > Subject: Re: [OT] Tax the banks > > > Not only that, but since banks lend out at about 10x > assets, this will cut > available money to small businesses by 10x the fees. > > This man is a complete economic disaster. > > --- On Fri, 1/15/10, Nicholas Geti <[email protected]> > wrote: > > > From: Nicholas Geti <[email protected]> > > Subject: [OT] Tax the banks > > To: [email protected] > > Date: Friday, January 15, 2010, 10:58 AM > > Yesterday Obamo is mouthing off about > > taxing the banks to "get our money > > back". This is insane economics. Most banks have > repaid > > TARP money but Obamo > > wants to tax all banks whether they were involved in > the > > mortgage mess or > > not. Why penalize management who do good for their > town and > > customers? Talk > > about destroying incentives for honest people. > > > > > > --- StripMime Report -- processed MIME parts --- > > multipart/alternative > > text/plain (text body -- kept) > > text/html > > --- > > [excessive quoting removed by server] _______________________________________________ Post Messages to: [email protected] Subscription Maintenance: http://leafe.com/mailman/listinfo/profox OT-free version of this list: http://leafe.com/mailman/listinfo/profoxtech Searchable Archive: http://leafe.com/archives/search/profox This message: http://leafe.com/archives/byMID/profox/[email protected] ** All postings, unless explicitly stated otherwise, are the opinions of the author, and do not constitute legal or medical advice. This statement is added to the messages for those lawyers who are too stupid to see the obvious.
