Posted by
Contrarian Guitarist on Thursday, October 16, 2008 12:06:06 PM
I get the impression from
this Washington Post article about many banks refusing federal monies that most banks, particularly community banks, did the right thing: only loan to those who can pay you back and only loan that which you have. This paragraph from the article I found socialistic...
"Participating banks cannot increase the dividends they pay to shareholders without federal permission, they must accept some limitations on compensation for their executives, and Paulson said the government would press companies to limit mortgage foreclosures."
The government will always get theirs first. Except when they are giving it out to get your vote and their power.