Tuesday, February 24, 2009

First National Bank to First Nationalized Bank???

As we debate the economy and the solution, I'd like to point out the fact that the United States government should be the last entity to straighten out the banking industry. Our government has not been solvent in, well, ever. Historically, everytime the leader in the government decided more money was needed, taxes were raised. The problem with this plan now is, even if taxes are increased, with the current unemployment situation, there are fewer pay checks being written, thus limiting the sum total for withholding tax. And as someone that has lived frugally within my means since my twenties, I don't really feel as generous as our government appears to. I have no desire to offer a bailout or even have concern for that matter, if a bank or the CEO is failing. I would, however; be happy to teach him how to live more modestly, and I would be willing to do that at no charge, even for the Wall Street types. And I don't really have a great deal of compassion for people who refuse to live within their means and always have an excuse or a request. I, also would be happy to teach them how to live within more modest means. Whether it's begging at the bank, the government, the church, or the local food kitchen, it kind of boils down to the same thing on all levels. People want to live more extravagantly than they can support, and when they finally exhaust all their options, they seem to think the rest of us should take care of them. I don't mind helping, but from the looks of things, throwing more money at the problem isn't helping. A government that is taxing the wage earners, and then promising more than is coming in, clearly indicates printing more money doesn't work and has not worked twice, now. Bankers that were unable to stay solvent, and cannot account for $350B dollars, certainly do not need more money to lose or mishandle. And for those that borrowed more than they could repay and used their homes as collateral for more debt, really don't place the same value that I do, for a roof over their heads, so why is our government going to insist that the rest of us pick up their mortgage debt?
Teaching people from Washington DC to Wall Street to the food pantry how to better manage money and not count on other's money would be the place we really need to start.
If our banks cannot rally, rather than nationalize them, perhaps it just time to find a new system for our commerce and a different way to exchange products and service.
And G~D said to Solomon, Because this was in thine heart, and thou hast not asked riches, wealth, or honour, nor the life of thine enemies, neither yet hast asked long life; but hast asked wisdom and knowledge for thyself . . . History contained in Holy Scripture

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