The Foxnews story under the title "Official: Banks Seeking to Return Bailout Funds Must Meet Guidelines" announce that
"Banks .... want to return government bailout funds .."
Absurd but a fact. Bailout funds unwanted, not needed. Why?
"That would free the banks from federal restrictions on executive compensation."
What is in their minds. What they want to protect. Their executive compensations.
Bank Executives out there ready to fight, tooth and nail for their rights. The fat compensation checks, the pure essence of them being there at all.
I am pretty sure, in their minds they think, that they are doing a service to the public. For them being there, for them running the banks, for them receiving fat checks, that it is owed to them and should be recognised by anyone, by everyone. By the public, the governments, the states. Weird, and wonderful, as a friend of mine, says. No, not at all wonderful.
Most certainly, they have recovered quick, the credit crunch of a few months away. Already a long lost, forgotten memory. I do not know what are the reasons of this recovery. Short memory, the pinch from the constantly underlying greed, an eagerness to get back to "normal". Anything goes.
Should they be allowed to?
The government
"...said banks will have to demonstrate that they do not need debt guarantees ..."
Demonstrate? That they can do the job? What they are entrusted to do, what they are supposed to be there for? Government doubts what of the banks? Doubts their sanity, their integrity? Whether they do the right thing, checks upon them?
How low have they stooped, in order to protect, their executives compensations, they are willing to forfeit their bank's position. Who cares whether the banks can or can not handle their debts. What matters for them, are the fat compensations, they receive. The sense of security gone out of the window. Who cares? Do the banks and their executives care? ... certainly not.
Do banks need their services ... certainly not ... or ... in a more appropriate manner. Hell not
