hoover

A New Goal for TARP Funds: Create Mutual Banks

I would say, yes, send it to Obama. It makes far more sense than throwing hundreds of billions at technically bankrupt large financial institutions. The several hundred smaller banks would almost surely be better run, better financed, and probably would create a lot of economic activity. What to do with the behemoth organizarions with the imaginary balance sheets, unknown amounts of off-balance sheet liabilities, and government "food stamp" handouts that they can't even account for? Liquidation. And disappearance from the banking scene.