McClatchy:
Overzealous bank regulators and an attempt by Congress to punish greedy bank executives are combining to restrict the ability of the nation's 8,000 community banks to lend to small businesses, Treasury Secretary Timothy Geithner said Tuesday.
Called to testify before the Senate Finance Committee about the Obama administration's fiscal 2011 budget proposal, Geithner instead spent much of his time discussing why lending hasn't picked up at community banks, often the only lender to small-town America.
Right because it is Congress's fault that they just HAD to be so tough on helpless bank executives. Banks are not responsible for the current recession. Congress and bank regulators are because they forced bankers to be reckless and soulless sociopaths.
This is really all we got? I know I am layman. A simpleton. So I don't get how "banking and loans" work per say, but there has to be someone better fitted for the type of crisis we have on our hands. Of course that person would be filibustered upon nomination...but Timmeh is time and time again quoted with too much heart for the fat cats who caused this mess. His "you guys are too hard on the banks" line is not cutting it.
The banks our sitting on our money, so we don't know how bad a shape they really are in and Timmeh is all too ready to protect them.
I am Frank Chow and I approved this message.
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