Nice Credit Card Company There. Shame If Something Happened To It. - The American Spectator | USA News and Politics
Nice Credit Card Company There. Shame If Something Happened To It.
by

President Obama “invited” credit card company executives to the White House and threatened them today.

Egged on by market-hating liberal activist groups, Obama implied if lenders don’t play ball, there’s going to be trouble. Meanwhile, lawmakers are tripping over each other in a competition to see who’s best at denouncing the evil capitalist money lenders.

So, on the one hand the government is giving money to banks to help keep them afloat, and then with the other hand it wants to kneecap them by hindering their ability to make a profit.

And we recently learned that perpetual bumbler Treasury Secretary Timothy Geithner is refusing to allow banks to pay back emergency aid because letting them do so would reduce the administration’s leverage over them. If banks pay the money back, then the government can’t squeeze them any more for the vig.

Is the Obama administration serious about economic recovery or is this approach inspired by the Cloward-Piven Strategy of orchestrated crisis? Making the banks the bad guys for decades to come would certainly serve the left’s political purposes.

Sign Up to receive Our Latest Updates! Register

Notice to Readers: The American Spectator and Spectator World are marks used by independent publishing companies that are not affiliated in any way. If you are looking for The Spectator World please click on the following link: https://thespectator.com/world.

Be a Free Market Loving Patriot. Subscribe Today!