Obama Bullies Banks To Make Risky Loans

Obama was not worried about the risk to banks 6 months ago; or two years ago, or 10 years ago; banks should take any risk to write bad loans.

Today, Obama wants you to think he cares about banking risk. He uses excess risk, but blames it on greedy CEOs, as an excuse to take control of banks himself.

How interesting that CEO greed caused failures in so many companies, and so many industries, at the same time. The failure was not caused by greedy CEOs; it was clearly caused by perverse government intervention in mortgage origination and packaging.

But FNMA and FMAC, and HUD and CRA and Barney Frank and Obama are STILL insisting banks write loans to buyers who cannot make the payments.

How interesting that the remedy for disastrous government intervention in banking is more wanton, mindless government intervention; in the same industry.

Obama and banking do not mix. Obama is creating yet another disaster. No sensible banker will trust him after Obama approved AIG bonuses in the law; now browbeats the recipients hourly.

The biggest mistake in history is believing Obama; whether you’re a banker, or a taxpayer.

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