Tamny’s article makes some interesting points:
1. Germany and Japan emerged faster from the destruction of their factories and businesses, as well as their ablest young men, than we are from the current recession.
2. At the time of the meltdown of our banking system, 80% of business lending in this country took place outside the banking system.
3. The purpose of a recession is to cleanse the economy of bad business models and improper investments. When Govt interferes, it slows the recovery.
4. “In truth, once an institution is the recipient of government largesse, that business is no longer in the business of profit. Instead, for taking government money it serves political masters with no regard for profits…”
In an effort to save our banking system, Govt continues to promote anemia in them. At best, it saves the ‘bankers’ at the expense of the banking system, and ultimately the customers served by them.