Sunday, January 18, 2009

Banking on Obama

Banks, the ones not lending their new billions in taxpayer money, want President Barack Obama to save them again. The New York Times reported:

A growing chorus of officials and Wall Street executives have urged President-elect Barack Obama to move immediately to shore up the banking industry as its crisis deepens.

Deepening crisis? What happened, didn't the Wall Street, big money boy bailout work? Ex-White House economic adviser Al Hubbard guaranteed a positive outcome. What more do they want?

Ben S. Bernanke, the chairman of the Federal Reserve, raised three proposals that Obama transition officials are said to have been considering to cleanse the largest banks of their biggest problems.

CitiGroup and Bank of America have hundreds of billions in taxpayer cash and loan guarantees. Other large banks need access to citizen funded largess? I hoped Bush's massive corporafornication would end on January 20th, but that seems unlikely.